Aberdeen announce £85,000 profit as turnover and wages reach record highs
- Published
Manager Derek McInnes and assistant Tony Docherty signed new Aberdeen contracts last summer
Aberdeen have announced, external an operating profit of £85,000 for the year to June.
Chief executive Duncan Fraser put the record £15.415m turnover down to a "substantial increase in sponsorship, advertising and commercial income".
And, after manager Derek McInnes signed a new contract last summer, the Dons paid a record £8.564m in wages.
The club had posted a £533,000 operating profit in 2016-17, external and said profit this year was a "positive result" for a "fifth year in a row".
League Cup finalists Aberdeen finished second in the Premiership last season for a fourth year running.
However, unlike the previous campaign, they exited both domestic cup tournaments before the final.
Fraser said the increase in wages from £7.761m is "a direct result of continuing investment in the overall quality of the playing squad, the level of success in all competitions and securing the management team on new contracts".
"The wages to turnover ratio has also increased from 51% to 56%, which is still well within accepted industry norms and compares favourably to other clubs," he added.
Meanwhile, chairman Stewart Milne said the club's board are hopeful plans for a new stadium and training complex will proceed, despite an impending judicial review.
A substantive hearing into the planning of the £50m development - sought by the No Kingsford Stadium group - is scheduled for January after a procedural hearing next month.
"Whilst this was unwelcome news, the directors remain confident that the planning procedure has been robust and that the plans for training facilities and a new stadium will go ahead as intended," Milne said.