Dundee United have made a net profit of £319,000 for the last financial year.
The accounts are for the year up to June 2013 and include the transfer fee received for Johnny Russell from Derby County, understood to be around £700,000.
Chairman Stephen Thompson said: “Scottish football continues to face challenging economic conditions and this is not anticipated to ease in the near future. This is why it is so vitally important that we continue to align the cost base of the club to its available revenue streams.
“We also consider it equally important to continue to invest in our youth system as the development of young talent is considered crucial to our long term strategy and sustainability.
“It is particularly pleasing to note that both of these key strategic objectives have directly contributed to the club returning a healthy profit for the second year in a row (and for the fourth year in five) and that, just as importantly, the number of young players being developed and introduced into the first team has increased significantly in the last year.
“This has led to some vibrant performances this season – and a record number of half season tickets sold – and provides optimism for further financial improvement in the future.”
Since the 2013 accounts were completed, United reached an agreement with its bankers to close off its debt position.
Thompson added: “A considerable amount of work went into securing this financial restructuring agreement with the bank; an agreement which, in our opinion, might not have been possible had we not made such significant progress in recent years and had not been able to demonstrate that there was scope for further contingent payments in the arrangement.
“These of course may never arise, but the fact remains that the receipt of transfer fees is a strategic objective of the club and underpins the significant investment we make in youth. Very importantly however, the club now holds total control over any such transfer negotiations.”
Thompson also had an announcement on their Gussie Park facility, across the road from Tannadice.
He said: “Related to this restructuring will be a greater focus on our community involvement and, subject to the necessary permissions, we intend to transfer our interest in our all-weather facility at Gussie Park to UNITED for ALL Community Trust, a registered charity, to provide improved recreational facilities for the local community.
“Building on the work we have undertaken to date, this will allow greater inclusion of all areas of the local community to promote enhanced health and wellbeing, through participation in sport and related activities.”
For more from Thompson see Saturday’s Courier.