Burnley have announced they have recorded a net profit for the third successive season.

The Clarets’ accounts for the 2018-19 campaign, which included their Europa League adventure and securing a fourth successive season of Premier League football, show a surplus of £4.3 million for Burnley FC Holdings Ltd.

The figure was down on the record profit of £36.6m recorded for the previous 12 months, due largely to a higher net spend on new players of approximately £20m compared to the previous year where the sales of Andre Gray to Watford and Michael Keane to Everton boosted profitability.

The club’s annual turnover decreased slightly by just over £1m to £137.8m, due in part to a decrease in Premier League ‘place monies’ after the Clarets finished 15th in the table as opposed to the seventh-place finish that sent the Clarets into Europe.

The wage bill increased from £82m to £87m.

Despite continuing to battle the effects of the coronavirus crisis, chairman Mike Garlick is enthused by future prospects at Turf Moor.

“Following our spectacular seventh-place finish in the 2017/18 season, we embarked on our first season in Europe in over 50 years ­- something, which I’m sure most of us, a few years ago, thought we would never see again,” he said.

“Combining our European adventure with the weekly fixture programme of the Premier League proved highly challenging.

“But following a highly successful second half of the season we managed to slowly but steadily climb up the table to a respectable finish and secure our fourth consecutive season of top-flight football for the first time in 50 years.

“I would like to thank all our staff for their continued hard work and commitment and all our fans for their unwavering support and passion. You all help to make a difference.

“The future is extremely bright for all of us, although in the short term we know we all face unique challenges brought about by the coronavirus pandemic.

“Issuing the club accounts is a legal requirement but our immediate thoughts are with those dealing with the effects of the current on-going situation.

“We are working closely with the Premier League and the relevant authorities regarding footballing matters, while off the field making sure the club continues to operate effectively and all staff, family and fans stay as safe and healthy and well supported as possible.

“We also urge you to follow all Government guidelines in trying to restrict the spread of the virus and by doing so look forward to the day when we can all meet again at Turf Moor and celebrate playing football in a safe environment.”

Elsewhere in the annual accounts, match income was shown to have risen from £5.6m to £6.3m in the 12 months up to last June.

Catering and retail sales stayed almost static at around £2.6m and £1.8m respectively, while income from other commercial activity rose from £7.3m to £12m.