Yeovil Town have announced record profits of £1.4m from the 2013-14 season.

The club's promotion to the Championship was a key reason for the profits, with income rising by £4.4m. Costs were also higher, with player-related costs rising by £1.6m and operating costs rising by £2.5m.

"The figures have been greatly helped by the fact that there were no corporation tax charges due to accumulated historical losses, no share dividends have been paid and, because we no longer have a chief executive, those duties were shared between directors saving further overheads," chairman John Fry told the club's official website.

"On the pitch it was a great season for the supporters, playing for the first time in the second tier of the football pyramid we competed well against some of the biggest clubs in the country."

Yeovil were relegated from the Championship after one season, and look set for a second successive relegation this season.