Liverpool Announce Record £125M Pre-Tax Profit for 2017-18 Financial Year

Liverpool have announced a record pre-tax profit of £125 million for the year up to May 31, 2018.

The Reds released their financial results via their official website on Friday, with profit up £85 million from the previous year.

According to the Press Association (h/t MailOnline), Liverpool's profit exceeds the record previously held by Leicester City for the 2016-17 season—in which they played UEFA Champions League football on the back of winning the Premier League title—which stood at £92.5 million before tax.

Liverpool weren't involved in any European competition in the 2016-17 campaign, but in the 2017-18 season, they not only played in the Champions League but also reached the final.

In large part due to their efforts, the Reds enjoyed a £66 million increase in media revenue, a £17 million increase in commercial revenue and a £7 million rise in match revenue. As a result, turnover rose from £365 million to £455 million.

The Times' Paul Joyce relayed some of Liverpool's other figures:

Liverpool's chief operating officer Andy Hughes said of the club's finances:

"What we have seen is a stable and sustained improvement in the club’s financial position over recent years. This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure.

"Financial results do fluctuate depending on player trading costs and timing of payments but what’s clear in these latest results is the further strengthening of our underlying financial footing and profits being reinvested in the squad and infrastructure."

The Reds used their increase in funds to bring in Alisson, Fabinho, Naby Keita and Xherdan Shaqiri last summer.

The quartet—Alisson in particular—have helped Liverpool mount a serious title challenge, and they're 12 points better off than they were at this stage last season, having accrued 62 over 25 matches.

Liverpool also remain in the Champions League, though they'll need to overcome Bayern Munich in the last 16 if they're to reach the quarter-final.

Winning the Premier League title will remain their priority in the coming months, but advancing as far as possible in Europe will help maximise their income to fund more investment in their playing squad for next season.