Hibernian's reported profits have been almost slashed in half and their debts have also increased, according to their latest financial results. Hibs reported a fifth successive year of profit but the net figure was down from £1.2million last year to £700,000 for the year ending July 31 2009.

Net debt also rose from £2.8million to £3.6million year on year.

A 9% reduction in attendance at Easter Road and an increase in staff costs are two factors behind the figures.

The club's turnover fell again but only by four per cent to £7.7million.