Aberdeen: financial results deliver record turnover

Aberdeen posted increased revenue and operating profits, but also saw the average league attendance fall

Aberdeen's turnover rose by almost £2m to a record for the club of £15.281m for the financial year to June 2017.

The increase was driven by reaching the finals of the League Cup and Scottish Cup, and higher broadcasting revenues, although the average league attendance at Pittodrie fell.

The wage bill rose from £6.8m to £7.8m, but maintaining the wages to turnover ratio of 51% from the previous year.

Aberdeen registered an operating profit of £533,000, up from £448,000.

As well as reaching the two cup finals, the Pittodrie club were runners-up to Celtic in the Premiership and progressed to the third qualifying round of the Europa League.

"The 2016-17 season was one of the most successful in recent years. Finishing second in the league for the third successive season and reaching both domestic cup finals reflect the great effort by Derek McInnes and his team of players. It is just disappointing that their exceptional effort did not result in silverware," chief executive Duncan Fraser told the Aberdeen website.

"The reshaping of the first team squad during the summer involved a great deal of work with a number of players coming in and out as well as players already here committing their immediate futures to the club.

"The overall turnover increased by almost £2m, down to the appearance in both domestic cup finals and the net sale proceeds from the transfer of Jonny Hayes to Celtic."

Aberdeen chairman Stewart Milne revealed £3.3m extra investment into the club and AFC Community Trust from American investors as they look to finalise plans to move away from Pittodrie to a new stadium and training complex.

"We have invested considerable financial and management resources into getting the planning application for Kingsford to its current stage, and this remains the most critical aspect of determining the future of our club," Milne said.

"This has been frustratingly delayed by around 10 months, but we are now in a position of having the most robust case for our plans with a definitive date for a decision by the end of January."