Top flight football helped Sheffield United plc return operating profits of £6.3m, according to the club's latest trading figures released today (Thursday, October 25).

After accounting for players transfers, amortisation and impairment of registrations, interest and tax, the retained profits for the year ending (June 2007) are £0.5m compared to a loss of just under £8m for the previous 12 months.

Turnover increased by 68% to £45.8 m from £27.2 mainly as the result of enhanced income largely associated with the Premier League, in particular broadcasting and ticket sales. Sheffield United was the 11th best supported club in the Premier League last season with an average attendance of 30,684.

Off-field businesses continued to contribute significantly to the profitability of the Group with catering and leisure performing well.

Property interests, most notably United Scarborough Estates Group (USE) contributed a before interest and tax contribution of £1.8 million, with USE having now traded over £130 million of property producing a total contribution of £4.4 m since inception in March 2005.

The club also invested substantial sums into strengthening the playing squad during the financial year and players' wages increased by 67% on the previous year.

Chief Executive Jason Rockett said:

"I am pleased that Sheffield United can report a retained profit for the first time in many years.

"Sheffield United plc has established a business model which is not solely dependent on Premier League football to progress, although a return to the Premier League remains a principle objective."

Mr Rockett added: "In this context it is important in the Championship that we continue to sensibly grow the off-field businesses in order to maintain investment in the first team. This is intended to provide the basis for the club to succeed on the pitch with all the associated benefits of that success.

"It is pleasing to reflect that we were the eleventh best supported club in the Premier League and that our supporters created an atmosphere and vocal intensity that gained many admirers.

"Looking forward we have just started the current construction of a 158 bed four star hotel which forms the initial phase of a more comprehensive master plan for Bramall lane intended to increase capacity and to provide further income producing opportunities."