(Reuters) - Premier League leaders Liverpool announced on Thursday a pre-tax profit of 42 million pounds ($54.57 million) and increased turnover of 533 million pounds for last season’s Champions League-winning campaign.
The club, who also finished as Premier League runners-up, said turnover rose by 78 million pounds for the year ended May 31, 2019, and that it had invested a club record 223 million pounds in players.
Liverpool signed goalkeeper Alisson and midfielders Naby Keita, Fabinho and Xherdan Shaqiri during the accounting period and offered new deals to 11 players, including Jordan Henderson, Roberto Firmino, Mohamed Salah, Sadio Mane, Andy Robertson and Trent Alexander-Arnold.
Media, commercial and match revenue all increased as a result of the club winning their sixth European Cup in the same season that a new Champions League broadcasting deal commenced.
Media revenue rose by 41 million pounds to 261 million pounds, commercial revenue was up 34 million pounds to 188 million, and match revenue climbed 3.5 million pounds to 84 million.
“What we’re seeing is sustained growth across all areas of the club, which is aligned to the recent performance on the pitch,” chief operating officer Andy Hughes said in a statement.
Liverpool invested 50 million pounds in a new training facility in Kirkby and signed nine new commercial partnerships during the period. They also plan to expand their stadium capacity by rebuilding the Anfield Road stand.
“The cost of football, however, does continue to rise in transfers and associated fees but what’s critical for us is the consistency of our financial position, enabling us to live within our means and continue to run a sustainable football club,” Hughes added.
“This sustained period of solid growth is testament to our ownership, Fenway Sport Group, who continue to support the club’s ambitions and continue to reinvest revenues.”
Liverpool lead the Premier League table by 22 points and are 12 points away from winning their first English top-flight title in 30 years.
The Merseyside club are 38 points above fifth-placed Manchester United who reported on Tuesday a 19% fall in revenue and 31% fall in core earnings for the second quarter, due mainly to their absence from the Champions League.
Reporting by Simon Jennings in Bengaluru, editing by Ed Osmond