Liverpool record profit for first time in seven years but debt rises to £57.3m

LIVERPOOL have ended a seven-year streak to get back in the black - recording annual profits of £900,000.

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Liverpool recorded £900,000 profit between May 2013 and May 2014

Figures reveal the club made their profit in the 12 months leading up to 31 May 2014.

That is a huge improvement on the £49.8million loss they made in the year before that, which encompassed the start of Brendan Rodgers' managerial reign at the club.

It is the first profit the club have made since American investor John W Henry took over and does not include the £75m fee received for Luis Suarez's sale to Barcelona last summer.

The latest figures also show a 19 per cent rise in revenue and come just a week after the club were cleared of breaking UEFA's Financial Fair Play rules.

Brendan Rodgers hails Liverpool s big win

They pleaded that in the initial year that a club is scrutinised there is flexibility, under the term 'transitional relief,' for a first set of accounts under FFP regulations.

Therefore, they were able to prove the club's finances are in good health, even though debt has increased by £12.2m to £57.3m.

Chief executive Ian Ayre said: "We continue to make good financial progress. Although these results are nearly 12 months old, they demonstrate that the transitional period we've been through over the past four years has stabilised the club and provided a platform for growth.

"Revenue has been consistently increasing from around £170m in 2009 to over £250m today and our commercial revenues continue to add strength to our overall results.

"During these past transitional years, it was important that we took a measured approach to bring back financial stability by ensuring the club is properly structured both on and off the pitch."

Liverpool currently sit fifth in the Premier League and are in the FA Cup quarterfinals.

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