SUNDERLAND Football Club has played its way to an impressive performance on and off the pitch in the first half of the year.

The club has continued to consolidate its position in the Premiership, standing fourth in the table, while improving its profitability.

Sunderland has reported a 33 per cent rise in pre-tax profits for the six months to January 31. Turnover rose to £25.5m, up 25 per cent on the same period of last year.

Sunderland's good league placing is reflected in a 23 per cent rise in gate receipts to £10m, and a 65 per cent increase in turnover from TV and media deals with BSkyB to £7.6m.

The performance of the first half is expected to continue in the second half of the year, with several attractive home games still to come, including Leeds,on Saturday, Liverpool and a derby against Newcastle.

However, during the first half of the year, player wages rose by 46 per cent.

Players sold during the first six months of the year included Paul Butler to Wolves, Darren Holloway to Wimbledon and Nicky Summerbee to Bolton, bringing in a combined profit of £1.2m.

The £10m Academy of Light development got under way in November with a £2m landscaping scheme started.

Work on the buildings for the site is scheduled to start in July with completion by May 2002.

Bryan Sanderson, chairman of the plc board, said: "The technologically advanced centre will enable the club's professional footballers to gain a competitive edge while youngsters will benefit from training alongside Premier League stars."

Meanwhile, development agency One NorthEast has chosen the club as the preferred developer for the nine-hectare Stadium Park site, adjacent to the Stadium of Light.

The club is exploring business plans and partners.

Sunderland has already announced that it is reducing the cost of a season ticket from August.

During the past six months, the off-pitch team has also been strengthened and expanded.

Key appointments include new chief executive Hugh Roberts, who has worked in the brewing industry for the past 12 years. He joins Sunderland from Adnams plc, where he has held several positions including joint managing director responsible for the development of the company.

John Fickling has moved into the position of vice-chairman and will oversee the continued development of the Academy of Light.

Mr Sanderson said: "There are many exciting opportunities and challenges ahead, not least the potential lucrative European place to aim for.

"It is our ambition to be ranked, by turnover, as one of the 20 richest clubs in the world within the next three years."

Everyone at the club was working hard to achieve this, he said.

The board has decided not to pay an interim dividend to its shareholders.