Everton have announced record profits of £28.2 million for the season 2013/14, which was Roberto Martinez's first season as manager at the club.
Turnover increased by 39% from £86.4 million to £120.5 million, which was helped in part by the increase in transfer fees taken in - by making a profit of £28.2 million on loan through transfer fees following the sales of Marouane Fellaini, Victor Anichebe and Nikica Jelavic.
The club's website suggests that the profit helped them in the transfer market this summer, notably making Romelu Lukaku's loan move from Chelsea last season permanent for a fee of around £28 million.
Chairman Bill Kenwright told the Everton website: “It was a special season that blended the optimism of youth, a much talked-about, bold new style, individual brilliance and an enduring team spirit that runs through every Everton squad. A season that brought a Club record Premier League points haul - a total that in almost any other year, would have sealed Champions’ League football. It was a season that, quite simply, we didn’t want to end.”
The club's debt has been reduced by £17.2 million to £28.1 million at the end of May 2014. The results also show a rise in gate receipts and a slight rise in sponsorship income.
Everton chief executive: Robert Elstone said: “The strong results for 2013/14 are a reflection of the drive, commitment and hard work of all staff at the Club. Teamwork and clear priorities will always be fundamental to our success. And, at the most senior level in our Club, the passion and talent of our outstanding Manager fits seamlessly with the vision and dedication of our Chairman. These combined efforts, shaped by a clear strategy, will continue to be targeted exclusively on ensuring the success of the Everton first team.
“Our financial results highlight growing revenues, costs remaining under control and debt reducing, and when we combine that solid financial base with a playing squad that continues to improve and increase in value, we have every right to be confident and positive on future prospects.”