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Chelsea have announced record turnover of £223.3 million for 2006-7.

The London club released figures today showing that match day revenue was up 29 per cent to £74.5 million from £57.7 million the year before, while sponsorship revenues were up 89 per cent from £16.9 million to £32 million as a result of a contract deal with kit maker Adidas.

Winning the 2007 FA and Carling Cups, reaching the UEFA Champions League semi-finals and finishing second in the Premier League meant that Chelsea's income from football activities was £165.3 million up 27 per cent from £130.4 million.

Chelsea chief executive Peter Kenyon said: "These figure once again demonstrate that Chelsea is growing in strength as a business and as a club."

"I am delighted there has been such large increases in the major income streams. This has all been underpinned by our fundamental aim, success on the field, and this season we are looking to build on that again."

He admitted however that the club remained in debt and plans to break even by next year were "ambitious"

"Our long-term target of operating profit break even by 2009/10 remains ambitious but we are determined to meet it or get as close as we can," Kenyon said.

"We have expanded globally as a club, we have reduced our salaries as percentage of turnover, we have continued to be successful on the filed, we have increased sponsorship revenue and we continue to invest in our academy and reduce our reliance on transfers.

"With the company also being external debt free and our ownership clearly demonstrating continuing commitment to the long term, I am very confident about the future on a football and business level."

In contrast to the other top English clubs, Chelsea are still a way off Manchester United who posted pre-tax profits of £59.6 million, compared to Chelsea's actual loss of £74.8 million.

Chelsea play Tottenham Hotspur in the Carling Cup final at Wembley on Sunday.