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Southampton announce £33.4m after tax profits

Southampton have announced after tax profits of £33.4m for the year ending June 30, 2014, their first full-year profit since the club went into administration in 2009.

Southampton are enjoying a successful year on the field too. Credit: PA

St Mary's Football Group Limited audited annual results showed a £33.4m profit on ordinary activities compared to a £7.1m loss in 2013.

Total revenue increased to £106m from £71.8m in 2013 while group wages, including players, increased from £41.4m in 2013 to £55.2m in 2014.

Southampton chief executive officer Gareth Rogers said:

There are lots of positives to take from these financial results. Recording the first profit and positive net asset position for the first time since administration in 2009 is very pleasing. It shows the health of the club and the Group is strong and the foundations are there to be built on."

– Southampton chief executive officer Gareth Rogers

Southampton's debt now stands at approximately £50m, of which circa £19m is owed to Vibrac, £15m shareholder's loan and a further £15m secured on the shareholder's estate.