United said their figures up to the end of June include an “exceptional gain relating to the exit of banking arrangements with the Bank of Scotland”.
United’s annual accounts showed a three per cent increase in revenue to £5.6 million with their fourth-place finish in the Scottish Premiership and run to the William Hill Scottish Cup final making up for the loss of European football and the Dundee derby.
The club subsequently took in £2.85 million from the sale of Andy Robertson to Hull and a similar amount from Ryan Gauld’s transfer to Sporting Lisbon, sums which will be reflected in the next annual accounts.
Chairman Stephen Thompson said in a statement: “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.
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“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”.
United say they are investing a significant part of the profits in the development of their Gussie Park community facilities, which will include a new full-sized artificial pitch.
They also completed the signing of Arbroath striker Simon Murray on Sunday night, although the 22-year-old Dundonian will be loaned back to the League Two club for the rest of the season.
Murray, who will begin training with United immediately, has scored 18 goals this season since joining from junior side Tayport.
Manager Jackie McNamara said: “He has pace and composure and his goal record this season shows he knows where the goal is.”
Murray added: “With the benefit of full time training I will look forward to coming back here in the summer ready to stake my claim for a starting place in the first team. Right now, I can focus on continuing to score goals and continue to be educated at Arbroath.”
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