Liverpool have announced a pre-tax profit of £42million last year despite a record £223million investment on players.

While that top line is well below the record £125m profit for the year ending May 2018, the rewards are being felt on the pitch with the club four victories away from winning their first league title in 30 years.

Figures released on Thursday for the financial year to May 31, 2019 incorporate the purchases of Alisson Becker (£65million), Naby Keita (£52.75m), Fabinho (£43.7m) and Xherdan Shaqiri (£13m).

It also includes the increased costs of new contracts for 11 players, including captain Jordan Henderson, Roberto Firmino, Mohamed Salah, Sadio Mane, Andy Robertson and Trent Alexander-Arnold - who have all played a key role in helping Jurgen Klopp's champions-elect establish a 22-point lead at the top of the table.

Some of that cost was offset by sales including Danny Ward (£12.5m), Danny Ings (£20m) and Dominic Solanke (£19m).

Income was also boosted by Champions League success, although as victory in the final in Madrid came in June the prize money from winning a sixth European Cup will be counted in the current financial year.

"This continued strengthening of the underlying financial sustainability of the club is enabling us to make significant investments both in player recruitment and infrastructure," said chief operating officer Andy Hughes.

"Being able to reinvest over £220m on players during this financial period is a result of a successful business strategy, particularly the significant uplift in commercial revenues."