Dundee United have made a profit of over £1 million, the annual accounts issued today have revealed.
For the period through to June 2014 the exact net profit is £1.218 million – an increase of £900,000 on the previous year.
This is the fourth time the club has reported a profit in the last five years.
The figures do not include the millions of pounds they made in the transfer market in the summer.
Chairman Stephen Thompson said: “While pleased to report significant profitability again, the directors recognise that this most recent financial performance was made possible by the arrangements put in place to buy out the bank debt.
“Looking ahead, we expect to record a further profit in the current year as a result of effective player trading, which is an integral part of our strategy to identify, develop and manage young players and provide them with the best opportunities to succeed within the club and the football sector generally. This aims to achieve footballing success for Dundee United and the opportunity for players to improve and, where appropriate, enhance their earnings elsewhere.
“While this mutually beneficial strategy has resulted in a significant increase in trading income and contributes greatly to profitability going forward, we must also ensure that operating costs are kept under strict control. However, we must also strike a balance between managing costs and delivering a team capable of competing at the highest level in Scottish football and in these respects we consider the period to June 2014 a success.”
* For full story and reaction on the United profit see Tuesday’s Courier.