Liverpool have announced their first annual profit in seven years -- with chief executive Ian Ayre saying that the club are on course for two in a row.
The Reds made a pre-tax profit of 900,000 pounds in the 12 months to May 31, 2014, a significant improvement on the 49.8 million pounds loss they made the previous year.
That turnaround was helped by a major increase in media revenue from 63.8 million to 100.9 million pounds, as the 2013-14 accounts took in the first season of a lucrative three-year UK television contract with Sky Sports and BT Sport.55
But matchday and commercial revenue also went up, as turnover increased from 206.1 million to a club-record 255.6 million pounds.
Despite the small profit, the club's total debts, known as net debt, went up from 114 million to 126 million pounds.
That meant that the club's external debts, consisting of money owed to banks, also increased, from 45.1 million to 57.3 million pounds.
However, Ayre said that the club had no major concerns about that rise, pointing out that the figure can be affected by transfer deals, and when payments relating to those deals are due.
And the chief executive said he was confident that Liverpool's accounts for 2014-15 will give further grounds for optimism when they are published around March 2016.
Ayre told Liverpool's website: "I'm pleased to say that we are heading in the same direction, so it will certainly show a profit again this year, a greater one than last year, and that's down to the hard work and effort that people have put in across the club.
"Generating these great results comes from work by everybody throughout the club, and that's great because we've said for the last few years now that this is a one-club mentality and we are all working together on this.
"Whether it's working well in the transfer market or whether it's working well commercially, or whether it's working well operationally, all of those things add to the costs and revenues of the club.
"It's pleasing to be able to sit here, as we said, seven years on showing a first profit, but also in our eighth year on being able to show a profit again this year, which is absolutely what we will expect."
Liverpool's 2013-14 accounts do not include money earned from this season's participation in the Champions League, or from the 75 million pounds sale of striker Luis Suarez to Barcelona in July 2014.
However, nor do they include the money manager Brendan Rodgers spent on nine players during the last close season.
Liverpool were cleared of breaching UEFA Financial Fair Play rules last Friday, having been put under investigation in the wake of their 49.8 million pounds loss for 2012-13.
The club were found to have satisfied UEFA's "break-even" rules because a large portion of that loss could be attributed to spending on infrastructure.
Ayre said: "We met with the criteria ultimately, so that's a good place for us to be.
"We need to build on that and we need to continue to be sustainable, and the more sustainable we can be the more we can compete and we want to compete within the rules.
"We've always been a big advocate of Financial Fair Play and it's great that we met the test."