Dundee reports profit

The Premier League club has reported £2.2m profits in the fourteen month period to August 2004. The club managed to wipe out almost £3.5m debts. Previous owners, the Marr brothers have provided a long-term £5m loan to clear the club’s overdraft and converted into a long-term loan. The club entered administration in November 2003 with debts of £20m. However, prudent cost-cutting, debt restructuring and the support of the club’s supporters’ group enabled the club to exit administration in August 2004.