Liverpool Football Club has announced sustained growth and further investment across the club in its latest financial results for the year to May 31, 2017.
Profitability improved from a £21 million loss in its full year 2016 to a reported profit after tax of £39 million in its full year 2017 results. Cash generated from operations continued to improve from £37 million in its full year 2016 results to £71 million experienced last year.
Overall revenue increased to £364 million resulting in reported profit after tax of £39 million.
Andy Hughes, Liverpool Football Club’s chief operating officer, said: “With the full support of this ownership group, we have significantly improved the club’s financial position over the past seven years and these results further demonstrate our solid financial progress – despite the ever-rising costs in football.
“During the seven years, we have seen operating profits one year and losses in others, a situation which can be attributed, in the main, to player trading costs and the timing of payments. What is important is the underlying trend that has continued with the aim of strengthening our financial position with profits being reinvested back into the club and players, allowing this long-term stability to become a reality.
“In addition to the three-year Premier League TV deal, we have had a successful commercial year which included a new training kit partner in BetVictor, a record number of home shirts sold recognising the club’s 125th anniversary, and a successful first season with the opening of our expanded main stand.
“Giving back to the local community is also a priority for this football club and launching Red Neighbours during this period, in addition to the great work delivered by our Foundation, means we can support even more local people and initiatives.”
Liverpool maintained ninth position in the Deloitte football money league despite the rising cost of football and not playing in a European competition during this financial year. Since this reporting period, the club has continued its commercial progress and qualified for the UEFA Champions League.