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Rangers Announce Substantial Increase In Turnover As Club's Debt Is Reduced

Rangers have announced a yearly profit and an increase in turnover that enabled manager Walter Smith to purchase players during this summer's transfer window.

The club had previously been unable to buy players for cash sums during a period of two years of financial instability. The transfer of former Stoke City striker James Beattie signalled the improved finances of the club, who managed to reduce their debt to £3.7 million.

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