Walsall have announced a trading profit of £25,000 for the financial year after reducing their debt by £85,000.

The Saddlers revealed the figures in their annual report which was delivered to shareholders.

Chairman Jeff Bonser said the results were a success in a difficult financial environment.

“I am pleased to report that for the fourth successive year we have achieved a trading profit of £25,000,” he said. “During the period covered by the report the club’s net debt has been reduced by £85,000.

“In the current financial climate this represents a considerable achievement.

“The past 12 months has been a time when foundations have been laid down.”

The Saddlers chairman also hailed the appointments of manager Chris Hutchings, assistant Martin O’Connor and head of youth Dean Smith this year.

“None of this management team needed any introduction to our supporters,” said Bonser, who agreed new rolling deals with Hutchings and O’Connor in September.

“We feel confident that we now have a very able management team in place.”

The Saddlers coffers were boosted in July with the sale of Anthony Gerrard to Cardiff for around £200,000 and reported sell-on fees from Scott Dann’s move to Birmingham from Coventry and Dan Fox’s switch to Celtic from the Sky Blues.

The annual meeting will be held at the Banks’s Stadium on December 14 at 9am.