Town have announced record profits for the 13 months to June. The club's pre-tax operating profit before transfers was £5.704 million. Turnover was up to £31.334 million from £9.957 in the previous year. Players' wages account for 56% of this, £17.6 million, up from £8.5 million in the previous 12 months.

The 13 month period is to bring the club's accounts into line with players' contracts which usually end in June.

David Sheepshanks said of the figures: "This represents a magnificent financial performance to match the achievements of George Burley and his players on the field and indeed those of all the staff at the club."

Town budgeted for a 17th place finish and the fifth place added to already bulging bank account. Cash from TV and other Premiership money came to £18.5 million, up from £1.2 million in the last year of Nationwide League football. That's £6.3million paid to all clubs, £5.4 million in merit cash for finishing fifth, £4 million for televised games and £2.8 million from league sponsorships.

Gate receipts were up by 44% to £6.7 million while commercial income was up 50% to £6.2 million.

With transfers included (the figures do not include the deals involving Richard Wright, James Scowcroft, Matteo Sereni, Finidi George, Tommy Miller and Thomas Gaardsøe) Town showed a £2.254 million profit.

The club face a Corporation Tax bill for the first time in some years, £1.1 million while the the £770,000 cost of demolishing the old North Stand was not tax-deductable.

The figures also showed that David Sheepshanks was paid £375,000 for his role as chief executive. This is made up of a basic £125,000 salary as well as £13,000 in pension contributions as well as a £250,000 bonus based on the club's performances not just last year but in the preceding period. These figures were settled on by a remuneration committee sat on by non-executive members of the board in Sheepshanks' absence. Sheepshanks had been acting as chief executive for much of the last five years unpaid.

This season Town have again budgeted for a 17th place finish and with TV incomes increased as well as UEFA Cup income next year's figures should show a further increase in the club's turnover while bigger name signings will see wages also on the up.

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