Juventus net profit from Zidane sale

The deal that helped lift Juventus profits

A sharp increase in gains from player trading has helped propel Juventus, the Italian football giant, to higher annual profits.

The Turin-based club sold French star Zinedine Zidane to Spanish club Real Madrid in July 2001 for $66m (67.4m euros; £43.1m) - a world record fee for a football player.

That gain more than compensated for the club's weak financial performance in recent months, when the World Cup finals curtailed the Italian domestic season.

Gain or loss on player trading

2001/02:
45.9m euros

2000/01:
-8.7m euros

"The World Cup is to blame. During the time we played 11 games last year, we only played five this year," said a Juventus spokesman.

"And we didn't just lose ticket sales, we lost broadcast and television fees during that time as well."

The overall result for the year was a 6.1m euro ($6m; £3.9m) profit, up 6% on the previous year.

Turnover was marginally higher at 175.3m euros.

Shares below float price

Last December, Juventus became Italy's third football club to float on the stock market, following Roma and Lazio.

The club's shares now stand marginally above two euros, well down from the float price of 3.7 euros.

The soaring cost of player wages has weighed heavily on club finances, while there has also been growing uncertainty over the amount of money allocated from television rights.

Juventus has so far enjoyed more financial success than many of its rivals.

But the club on Tuesday renewed a warning to investors, saying a strong financial performance depended on strong performances on the pitch and restraining player costs.