Dundee United revealed on Thursday (January 15th) that they made a net profit of £834,000 for the period to June 2008, their first profitable year since 1997.
The figure represents an increase of £1.8 million on the previous year and a substantial improvement of £3.7 million from the equivalent data in 2003.
In addition, the Scottish Premier League (SPL) side has confirmed that it has reduced its debts owed to banks by £500,000 to £5.5 million.
Chairman Stephen Thomson told the club website: "We are delighted to announce these results, which, as projected, show such considerable improvement on recent years.
"We are particularly pleased that this increase in profitability has allowed us to make permanent reductions in our bank term lending and to reduce our reliance on overdraft facilities at the end of the year."
The increase in turnover is being largely attributed to the Tangerines finishing in the top six of the SPL, while the sale of Barry Robson to Celtic contributed to transfer income of nearly £900,000 last January.
Dundee United famously beat Fairs Cup holders Barcelona home and away in the 1966-67 season.
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21 October 2010
21 October 2010
21 October 2010
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20 October 2010
