The club's profits were offset by increased wages, which went up by £41m from £21.7m to £62.6m.

Last summer the club added nine new players to their squad, including record signing Terence Kongolo, and two more in January this year, plus the loan signing of Jason Puncheon.

"Amortisation of player registrations also increased significantly to £17.1m (2017 – £2.7m), reflecting the significant investment in the playing squad following promotion," the club said in their accounts.

The club added that the amount they owed to owner Dean Hoyle remained "broadly flat" at £49.4million.

In September last year the club announced plans to invest £20m in their training complex at Canalside and these figures are not included in the accounts.

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