Shrewsbury Town racked up £1.2 million profit last season, accounts show

The football club saw its income significantly boosted by its newly-acquired League One status last season, as well as a successful FA Cup run which saw Manchester United visit the Greenhous Meadow for a sell-out fourth round tie.

Town also benefited from big-money player sales, including Ryan Woods' transfer to Brentford, and defender Connor Goldson's move to Championship promotion contenders Brighton.

But the club has cautioned against expectations that the figures will lead to big-money signings, with a lot of the surplus already used to fund the long-term investment in a new training ground at Sundorne.

Chief executive Brian Caldwell said: "The year to June 2016 was an exceptional year.

"The FA Cup run made a huge impact on that, as did the sale of players prior to me joining the club. It has been a very successful year for the football club.

"We wanted to try to invest and because of the successful year that we had last year with the cup run and the sale of players, the expenditure and investment in Sundorne and the training ground would be made this year to cover that, as at the end of the day it's going to be a long-term investment."

The accounts cover the period from July 1 2015 to June 30 last year, so cover the entirety of Town's first season back in League One after promotion under Micky Mellon the previous season.

Turnover increased by £2.8 million to £6.9 million, the accounts reveal, while the £480,152 loss incurred in 2014-15 swung to a hefty £1.23 million profit for last season.

It came despite an increase in the club's outlay on wages. The total paid out to all staff, including players, management and those involved in the day-to-day running of the club, grew from £3 million to £3.7 million.

The club paid no corporation tax during the year, which may have been because it offset its tax against losses it racked up in previous years.