Walsall have made a small profit and I believe they pay rent to another company within the group. From Midlands Business Insider Walsall FC have reported another trading profit for the year of £23,000. Chairman Jeff Bonser said the result was a "significant achievement". It follows a pre-tax profit of £10,000 in the 2011/12 season and £9,000 during the previous year. Revenue dipped again, however, to £4.8m in 2012/13, down from £5m in the previous season and £5.4m in 2010/11. The League One club recorded their highest finish in the table since the 2003/04 season in the period and their highest points total since the league was rebranded in 2004. Bonser said both were achieved on the back of one of the smallest playing budgets in the division and the smallest the club had operated with in many years. "I am delighted once again to be able to announce a trading profit for the year, this time of £23,000," Bonser added. "I believe this represents a significant achievement when you consider the findings of the latest Annual Review of Football Finance Report, published by Deloitte in June 2013, which established that the average net loss for a League One club in 2011/12 was £2.4m. "It is also worthy of note that this profit was achieved despite a fall in central television revenues of 26 per cent as a direct result of a reduction in the Football League's new TV deal with Sky. Consequently the club had to adjust and reduce its player budget by a similar amount to compensate and this was done in a controlled and constructive manner."