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Scottish Cup holders, Inverness Caledonian Thistle, are pleased to announce a profit of over £250,000 in our latest accounts.

This is the third successive annual profit and a massive rise on the previous year’s £28,000.

The surplus of £254,240 for the year to 15th May 2015 is Caley Thistle’s record as a SPFL club.

Club chairman Kenny Cameron said: “Our strategy and business model has again served us well over a memorable period in which we won the William Hill Scottish Cup, finished third in the Premiership and qualified for the Europa League.”

“It shows what is possible when everyone within a club shares a dream. Our intention is to continue to build on what has been achieved.”

“The lack of a league sponsor impacted on club income while player and staff rewards for achievement increased our spend, but the Scottish Cup revenue and the sale of Billy Mckay to Wigan in January ensured a more than acceptable return.”

Praising John Hughes and his backroom staff for what had been achieved, Mr Cameron added: “We’ve been aware for some time that we have a very special group of players. We’ve done our best to retain the services of the majority of them to ensure squad stability going forward.”

Numerous offers were received from a fellow SPFL club for Graeme Shinnie but Caley Thistle opted to have him see out his contract. This meant no fee was received, but Mr Cameron commented: “The Boards decision to retain the services of Graeme rather than cashing in during the summer was instrumental in our success last season.”

The accounts show that turnover rose to £4,623,203 from £3,891,475 the year before. Since then, season ticket sales have increased this season while Ryan Christie has been sold to Celtic.