Dunfermline were still losing money as they won promotion back to the SPL but the losses were considerably less than that of the previous year.
Figures newly released by the East End Park club show a loss of £431,621 for the period up to May 31 2011.
However, that was a marked improvement on the previous year, which saw the Pars lose £1,051,753. Turnover also improved by 31% compared to 12 months earlier, rising to £2,367,390.
The step-up from the First Division at the end of season 2010-11 was not without cost, though, with the club paying out bonuses of nearly £185,000 as a result of winning the title.
The bigger picture saw the club due £10,608,035 overall to its creditors, comprising £1,190,746 owed within one year and £9,417,289 due after more than one year (the bulk to group companies run by club directors).
And given that an already harsh economic climate has just been compounded by events at Ibrox, chairman John Yorkston took the opportunity the release of the accounts afforded him to warn of the impact of Rangers’ administration on other SPL clubs.
The Light Blues were forced to take that drastic step on February 14 and the following day the Pars expressed ”extreme concern” that they will not be paid £80,000 owed to them by Rangers for ticket income.
In his statement issued on Wednesday, Yorkston said: ”At time of writing, the Scottish Premier League is having to come to terms with the insolvency of Rangers FC and this will no doubt create challenges in a number of areas and potentially have an impact on other member clubs.
”Our immediate focus, however, is to retain our position in the SPL and generate profitability from our trading results and we are hopeful that we can finish the 2011/12 season on a high note.
”As always, we are enormously grateful to all our supporters for their loyal commitment and especially to all the directors, staff, sponsors and friends who have worked tirelessly to make promotion possible last year.”
While the Pars face a battle on the park to avoid relegation, Yorkston highlighted the progress that is being made off it.
”Following some fantastic games at the end of the season, Dunfermline Athletic Football Club lifted the First Division trophy and secured promotion back to the Scottish Premier League,” he said.
”This represents the huge efforts that have been made by the board and all the staff at the club, despite difficult trading conditions as a result of the current economic climate.
”The club continues to develop youth football through subsidiary Black & White (Dunfermline) Limited and the head of youth and his coaching staff are all working extremely hard to generate exciting prospects for the future.
”Our training facility at Pitreavie playing fields will hopefully at long last see the installation of a full size 3G artificial pitch in the autumn of 2012. This will be an enormous asset to the wider community as it will be open for public use, run by our charitable arm, The Pars Trust.”
Chief executive Bill Hodgins added: ”It was through enormous hard work by all staff, and especially those in hospitality, sales and marketing, that enabled us to improve our financial situation and a great deal of praise also has to go to the football management staff who secured promotion to the SPL with the same financial resources as the previous year.
”Obviously more work is required as we aim to achieve a small surplus this season and then to build upon that for future years. This will still be challenging, given economic conditions, the impact of the postponement of our Kilmarnock game followed by the recent insolvency of Rangers FC which could also impact on other member clubs.”Wages not paid in fullDunfermline have not been able to pay their players their full wages for last month after Rangers’ financial crisis sparked cash flow problems at the East End Park club.
The Pars were due about £80,000 ticket money from Rangers for the game on February 11, three days before the Gers went into administration.
Chairman John Yorkston said: “The Rangers situation has had a knock-on effect. I can confirm full wages were not paid.
“We have made other arrangements to get monies in and it should be all squared up on Monday.”