Dave Cormack insists Aberdeen will keep splashing the cash in the transfer market – to keep the club OUT of the red.

The Dons released their annual accounts which showed the Pittodrie club made a £1.1m profit. Turnover was also up by almost £2m to £15.77m while the wage bill rose to almost £12m. Cormack admitted the club’s strategy of investing heavily in transfer fees and wages means they would have had an operational loss of £6.27m – but high-profile sales have helped balance the books.

The Dons coined in £7.5m for the trading of big names such as Lewis Ferguson, Ross McCrorie, Calvin Ramsay and Scott McKenna and it’s allowed the club to put the cash back into the squad. Cormack is confident his side have several assets on the books that can allow the Reds to keep investing in the side – with more dosh on the way this season from the Europa Conference League. The chairman said: “To compete at the highest levels in Scottish football, and to qualify for Europe each season, we continue to invest more in player wages and transfer fees.

"This has led to annual operating losses which, over time, have to be balanced by positive player trading and increased commercial and football performance-related income. I’m pleased to report that we are making progress on balancing the significant additional investment in football wages and transfer fees, which leads to these operating losses, against positive income as a result of successful player trading.

“The club’s board and investors are committed to this strategy which has required a significant expansion of recruitment resources to unearth and invest in emerging talent such as Bojan Miovski, Duk and Leighton Clarkson. “This acquisition of emerging young players combined with continued, substantial investment in our youth academy to develop young, homegrown talent, gives our club the best opportunity of success.”

The sales have help slash Aberdeen’s overall operating loss over a three year period by more than £11m down to £3.4m, but bonus for finishing third and European qualification has pushed the wage bill to around 76 percent of turnover.

Cormack is confident costs are under control with season ticket sales soaring to 12,250, average attendances rising to more than 15,000 and fan initiatives like the Red Shed paying off. The Dons have also kicked off a five year play for the women’s and girls’ sides with plans for a full time female team on the horizon.

Cormack is predicting a bright future but he admitted Aberdeen need the fans on board. He said: “Crucially for the medium to long-term, season ticket sales among under 18s have risen from 17 percent to 26 percent of total season ticket sales over the last three seasons. This has largely been driven by our highly successful free AberDNA Junior initiative, to nurture the next generation of fans, and the success of the Red Shed.

“This steady, off-the-pitch financial performance, combined with progress in our football performance, most notably playing in the group stages of European club competition for the first time in 15 seasons, and getting to our first cup final in five years, puts the club on a good footing.

“Our strong senior management team, now led by Alan Burrows who was appointed as chief executive in February this year, are driving the key projects which will propel the club even further forward.

“I’d like to express my heartfelt thanks to our investors, board directors and dedicated staff for their continued hard work and efforts throughout the season. But we cannot do this without our fans and their unwavering support at home and away has been phenomenal and continues to be both acknowledged and envied across Scottish football.”