Aberdeen’s second place finish in the Scottish Premiership last season and participation in the Europa League has resulted in the club making an operating profit of more than half a million pounds.
The Dons’ strong showing last season has resulted in record turnover of £13.077 million while the elimination of the debt of £14.493 million last year has led to chief executive Duncan Fraser labelling the campaign as one of the most successful financially for the club.
In announcing a profit of £509,000 and that the wages to turnover ratio at the club had dropped to 51%, Fraser said: “The 2014-5 season was again one of the most successful in the club’s recent history.
“While it did not have the glamour of the previous season’s cup success, reaching the third qualifying round of the Europa League and pushing Celtic in the title race into May was an excellent performance from Derek McInnes and his team of players and back-room staff.
“The success of the under 20 team in winning the SPFL Development League for the first time since 1987 was also a great achievement and bodes well for the years ahead.
“The overall turnover increased by £1.919 million from £11.158 million to £13.077 million, which is a record for the club, with the previous highest turnover of £12.869 million being achieved in the 2007-8 season when we reached the knockout stages of the UEFA Cup.
“The club shop also achieved a record income of £2.086 million.
“Wages increased from £6.084 million to £6.644 million as a direct result of much higher performance bonuses being paid to the playing and management staff and an investment in the overall quality of the playing squad.
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“The wages to turnover ratio has dropped from 55% to 51% which is excellent when compared with many other clubs.
“Having reached agreement with the Bank and certain creditors to bring about a reduction of the club’s net debt, the operating profit for the period rose from £34,000 to £509,000 which allied to the reduction in interest charges and facility charges, puts the club in an excellent position.”