Despite the hurdles imposed by the Covid-19 pandemic, the club’s rise to second place in the championship helped boost their profit to £238,078, a record financial performance.

A combination of strategic initiatives contributed to this dramatic uplift in revenue, which rose from £610,549 to nearly £1.9m within one fiscal year. The easing of Covid-19 restrictions, which boosted gate receipts, was a significant factor. Other crucial developments included an increased focus on enhancing the club’s commercial reach, especially following the appointment of former Dundee United employee Paul Reid as commercial director.

Commercial gains included increased income from the Scottish Professional Football League (SPFL) due to the team’s impressive performance, with a rise of £410,335. Sponsorship and advertising income saw an increase of £174,637, while merchandise sales rose by £151,089, reflecting the club’s successful drive to engage local fans and boost sales of Arbroath kits.

The club has also been proactive in expanding sponsorship channels, leading to additional income. Furthermore, a 21.9% rise in average gate numbers to 2,152, coupled with record season ticket sales of 1,500, contributed to a turnstile income of £392,001 and season ticket sales worth £89,681 in the 2021/22 season, The Courier reports.

On the downside, operating costs have risen significantly by £600,863, and grant funding has fallen by £568,962 to £40,222, following the discontinuation of the Scottish Government’s Covid-disruption financial aid.

Club chairman Mike Caird remains optimistic, stating these figures make for “excellent reading”.

In a letter to shareholders, Mr Caird said: “Your continued support was once again outstanding.

“It was very humbling to see large increases in attendance which were buoyed by a significant increase in season ticket holders.”

He added: “Gayfield is surely now among the best stadium experiences in Scotland.”

Future challenges include additional expenses from infrastructure improvements, such as the upgrade of the Gayfield stadium, higher energy costs, and a smaller prize fund from SPFL following an eighth-place finish.