Sheffield Wednesday have announced profits of more than £2.2million for the year ended May 31.
It is hoped that the impressive figures will improve the Owls' chances of attracting new investment, although they do still have a debt of more than £25million.
A club statement read: "The board has worked hard to secure the financial stability for the club and these figures highlight the progress we have made and compare favourably with our peers.
"The board is also actively seeking new investment. We are not alone in this with other clubs in the Championship and Premier League also searching for investors in an uncertain economic climate.
"To date the board has not received a bona fide, firm offer capable of being put to shareholders. Communication with credible potential investors continues.
"As these accounts show, the club is in a sound financial position, so we will continue to work with our advisors to find the right custodians to take this great club forward."