Liverpool Football Club made a pre-tax profit of more than £100m following record annual revenues of £455m in the last financial year, the club's latest accounts show.

The club's annual accounts for the financial year to May 31, 2018 show pre-tax profits grew by more than 300 per cent from £40m to £125m, despite a club-record £190m invested in the playing squad.

Liverpool's turnover was up more than £90m on the previous year to £455m, with media revenue increasing by £66m to £220m, commercial revenues rising by £17m to £154m, and match revenue up £7m to £81m.

The majority of the revenue increases are a result of qualification for the Champions League as well as Liverpool's run to the final, which UEFA announced last year had earned the club £72m.

Liverpool's run to last season's Champion League final helped drive revenue

Commercial revenues were also driven by eight new partnerships including a five-year deal with financial services company Western Union who became the club's first ever shirt-sleeve sponsor. Liverpool are also up two places to seventh in the Deloitte Football Money League.

Andy Hughes, LFC's chief operating officer, said: "What we have seen is a stable and sustained improvement in the club's financial position over recent years.

"This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure.

"Financial results do fluctuate depending on player trading costs and timing of payments but what's clear in these latest results is the further strengthening of our underlying financial footing and profits being reinvested in the squad and infrastructure.

Virgil van Dijk remain the world's most expensive defender

"Since the reporting period, which is now nearly 12 months old, we have continued reinvesting in the playing squad from those areas of growth. In addition, the capital investment in our new training complex in Kirkby is well underway which will provide first-class amenities for our players and staff, and will vastly improve sports facilities for the community of Kirkby."

Liverpool's latest financial statement shows the club generated £137m in player sales, all of which, plus more than £50m, was reinvested back into the squad.

Philippe Coutinho, Mamadou Sakho, Lucas Leiva and Kevin Stewart left the club during the reporting period for the year to 31 May 2018, while Mohamed Salah, Andy Robertson, Dominic Solanke and Alex Oxlade-Chamberlain all arrived at Anfield.

Dominic Solanke has since joined Bournemouth in a £19m deal last month

Liverpool also completed a £75m deal for Virgil van Dijk, which saw the Dutchman become the most expensive defender player in football.

The club also enjoyed significant digital growth and became one the fastest growing football clubs on social media during the reporting period.

LFC's Instagram platform was up 71 per cent, growing by three million followers, while overall the club now have more than 60m followers across digital channels.