English Premier League side Southampton have announced profits of £33.4m for the financial year ending June 30, 2014.

The St Mary's Stadium club have recorded a positive balance sheet for the first time since entering administration in 2009 as they set about attaining a record league finish under Dutchman Ronald Koeman, TeamTalk report.

Chief Financial Officer David Bence said on a statement: “The financial statements over the last three years show a total net cash outflow on player trading of £58m and investment in Group infrastructure of £28m (training ground and stadium projects).

"This cash outflow of £86m has been funded by £14m of total profit after tax over the three-year period, leaving an additional £72m to be effectively funded by an increase in the total Group debt position.

“The maximum debt position is forecast to peak during the financial year ending June 2015, after which the debt levels will start to reduce over the medium-term.

“The profit from player trading over the summer 2014 transfer window has all been reinvested in transfer fees, player wages and additional football-related costs, in order to support the aspirations of the 2014/15 season.

“The Group continues to improve its financial strength as evident by the net asset position of £31.8m at the balance sheet date (2013: negative £1.6m, 2012: negative £32.4m).”