Spurs operating profit before player amortisation for the period to the end of December fell to £2.9million ($4.1m/EUR4.75m) from £7.1m ($10m/EUR11.6m) last year, on sales of £29.4m ($41.6m/EUR48.1m) compared to sales of £27.8m ($39.4m/EUR45.5m) in the period to January 31, 2001.
Plc chairman Daniel Levy, commented: "We have continued to make progress with the development of the club's proposed new academy and work in this area is ongoing to secure a new site and progress the design work for a new state-of-the-art facility.
"In addition, we are progressing a number of new initiatives aimed at improving the level of services available to our growing supporter base, including the development of a new web-based ticketing service, video streaming of delayed game highlights and a new Customer Relationship Management system at the club."
The team lost to Blackburn Rovers in the final of the Worthington Cup last week and are in the quarter-final stage of the FA Cup, where they will play Chelsea on March 10.
