St Mirren have announced profits of just over a £1million for the last financial year. The bulk of the funds were raised through the sale of Love Street and chairman Stewart Gilmour is pleased considering the financial climate.
St Mirren showed a profit after tax of £1,064,433 compared to £10,027,406 last year while the wage bill has increased from £1,958,411 to £2,463,911.
"This has been a very difficult year for all clubs," stated Gilmour.
"The demise of Setanta impacted on us financially and we have written off £100,000 of what we would otherwise have expected during the season.
"My thanks go to Gus MacPherson, his assistant Andy Millen and all the coaching staff and players for their continued efforts to establish us as a permanent fixture in the SPL."