Wolves have released headline financial information for the year ending 31st May 2019, confirming a pre-tax profit of £19.96m during a period that reflects the 2018/19 season.
This was the third season under the ownership of Fosun International and the first in the Premier League since 2012.
A second successive record-breaking campaign saw the team build on previous successes, securing a 7th place finish, the best top flight points haul since 1979/80, and qualification to the 2019/20 UEFA Europa League.
The season included memorable victories over Manchester United, Tottenham Hotspur, Chelsea and Arsenal, and a significant FA Cup run culminating in semi-final defeat at Wembley Stadium.
The period saw significant investment in the playing squad, including the signing of Player of the Season Joao Moutinho, Adama Traore, Rui Patricio, Diogo Jota, Willy Boly, Ruben Vinagre and Jonny.
Turnover for the year was £172.5m (£26.4m in 2018), with the uplift primarily driven by receipt of Premier League distributions and supplemented by improvements to match attendances and increase in commercial revenue.
Season ticket holders increased to the maximum available of 22,500 (21,233 in 2018) and the average league attendance rose to 31,030, compared to 28,298 the previous season.
Moving forwards, the aim of the board is for the club to become consistent contenders for qualification to European competition, which will be achieved through continued application of the footballing philosophy applied throughout the 2018/19 season, with strategic enhancements to the playing squad and development of academy players.
This will also be supported by strategic alignment of the wider business, ensuring the business is consistent in its belief and application of the spirit and values established.
The directors have a continued commitment to continuously improving the club, from both a footballing and a wider operational and strategic perspective.
Supported by continued success in both the Premier League and cup competitions, both European and domestic, the directors consider prospects for the company to be excellent.
The full accounts can be accessed by clicking here.