By Jonathan Davies

Liverpool Football Club has reported an annual profit for the first time in seven years, as a result of higher Premier League revenue.

The Merseyside club posted a profit of £900,000 for the 2013/14 season, compared to losses of £49.8m in the 2012/13 season.

Mounting a serious title challenge helped Liverpool's media revenue to increase by 46% to to £100.9m, as the team was chosen for more live Sky Sports broadcasts towards the end of the season.

The club also announced a 5% rise in commercial revenue to £103.8m after the club announce seven new sponsorship deals. And another seven have since been signed.

Overall debt has fallen by £237m since 2010 when Fenway Sports Group, run by John W Henry, took ownership of the club.

Chief executive Ian Ayre said: "We continue to make good financial progress. Although these results are nearly 12 months old, they demonstrate that the transitional period we've been through over the past four years has stabilised the club and provided a platform for growth.

"Revenue has been consistently increasing from around £170m in 2009 to over £250m today and our commercial revenues continue to add strength to our overall results."