Liverpool have recorded an annual profit for the first time in seven years.
Figures released for the financial year ended 31 May, 2014 show the club made a pre-tax profit of £0.9m - a considerable improvement on the £49.8m loss of the previous year.
The figures underline the progress the club have made since their takeover by Fenway Sports Group, the American investment company run by John W Henry, in 2010.
FSG inherited huge debts from previous owners Tom Hicks and George Gillett and saved the club from financial catastrophe.
The latest figures, which show a 19 per cent rise in revenue, also come just a week after the club were cleared of breaching UEFA's Financial Fair Play regulations following an investigation by the European governing body.
On the negative side, the club's net debt has increased by £12.2million to £57.3million.
No reason has yet been given for this rise but the debt situation still compares favourably to the position when FSG rescued the club following the ruinous ownership of Hicks and Gillett. At that point the club's net debt stood at £237million.
Revenue has increased year on year under FSG, with the latest increase to £255.6million attributed largely to a rise in income from the Premier League's TV deal. The club list TV money in a media revenue category, which overall has risen by 46 per cent to £100.9million.
Commercial revenue has also increased by five per cent to £103.8million with the club having tied up seven new partnership deals.
The figures cover a spectacular period for the club on the pitch when they went close to winning a first league title since 1990 and qualified for the Champions League.
Chief executive Ian Ayre is pleased to see the club back in the black. He said: "We continue to make good financial progress. Although these results are nearly 12 months old, they demonstrate that the transitional period we've been through over the past four years has stabilised the club and provided a platform for growth.
"Revenue has been consistently increasing from around £170million in 2009 to over £250million today and our commercial revenues continue to add strength to our overall results.
"During these past transitional years, it was important that we took a measured approach to bring back financial stability by ensuring the club is properly structured both on and off the pitch."
Matchday revenue also increased by £5million as a result of a successful pre-season tour of Asia and Australia. Further matchday increases are anticipated on the home front in future with Anfield's Main Stand currently undergoing major redevelopment.
Meanwhile, Liverpool boss Brendan Rodgers believes the form of Philippe Coutinho should put him in contention for player of the season prizes.
The Brazilian playmaker has been outstanding in the Reds' recent resurgence and headlined his performances with a series of superb goals.
His latest brilliant strike secured a 2-1 victory over champions Manchester City at Anfield on Sunday, coming soon after similar crucial goals against Bolton and Southampton.
The 22-year-old would also be eligible for young player awards and Rodgers thinks he deserves to come into consideration when the season's most influential performers are assessed.
Rodgers said: "He is certainly going to be up there, there is no doubt about that. He has played very well.
"I think that period the team suffered at the start of the season, with our lack of penetration at the top of the field - he is the player that thrives on that. He is normally the player that makes the last pass for those players running in to score the goals.
"We didn't quite have that in the opening months. He had to stay longer on the ball and wasn't as effective, but now the dynamics in the team are very good, with the pressing and the movement off the ball.
"That allows him and his technical quality to really shine and he is starting to add goals to his game, and scoring some fantastic goals. Very importantly, he is contributing to the team and there are still improvements to make from someone so young."
Rodgers, speaking at a press conference to preview Wednesday's clash with Burnley, also revealed that youngster Jordon Ibe's knee injury was likely to keep him out until the end of March.
The 19-year-old winger, who has been a revelation since returning from an early-season loan at Derby, was injured in last Thursday's Europa League defeat at Besiktas and missed the visit of City.
Captain Steven Gerrard is making good progress in his recovery from the hamstring injury that has kept him out for the last five games.
Rodgers said of the 34-year-old: "He is coming along very well. He is building up strength in his hamstring. He been outside and is working very hard. Hopefully in the near future he will be back and available."
