St Mary's Football Group Limited audited annual results showed a £33.4million profit on ordinary activities compared to a £7.1million loss in 2013.
Total revenue increased to £106million from £71.8million in 2013 while group wages, including players, increased from £41.4million in 2013 to £55.2million in 2014.
Southampton chief executive officer Gareth Rogers said: "There are lots of positives to take from these financial results
Recording the first profit and positive net asset position for the first time since administration in 2009 is very pleasing
It shows the health of the club and the Group is strong and the foundations are there to be built on."
Southampton's debt now stands at approximately £50m, of which circa £19m is owed to Vibrac, £15m shareholder's loan and a further £15m secured on the shareholder's estate
Source : PA
Source: PA