Everton Football Club reported a record £28.2m profit for the 2013/14 financial year, helped along by soaring television revenues.

The profit is almost 20 times more than the £1.6m ($2.6m, €2m) that the club posted in 2012/13 and the club's increased cash flow has helped it attract the likes of Samuel Eto'o and Romelu Lukaku, paying a club-record £28m for the Belgian in the summer.

The Liverpool-based club saw its turnover rocket by 39% to £120.5m after £3bn was shared around English football's top flight teams as part of a lucrative TV deal that has seen Sky Sports and BT Sport vie for the bigger share of games to broadcast.

The Toffees saw all potential areas of income rise in the financial year, with broadcast revenue up by more than £30m to £88.5m and gate receipts jumping by almost £2m to £19.3m being the main highlights.

Robert Elstone, chief executive for the club which plies its trade at Goodison Park, said: "The strong results for 2013/14 are a reflection of the drive, commitment and hard work of all staff at the Club. Teamwork and clear priorities will always be fundamental to our success.

"And, at the most senior level in our Club, the passion and talent of our outstanding manager [Roberto Martinez] fits seamlessly with the vision and dedication of our Chairman. These combined efforts, shaped by a clear strategy, will continue to be targeted exclusively on ensuring the success of the Everton first team.

"Our financial results highlight growing revenues, costs remaining under control and debt reducing, and when we combine that solid financial base with a playing squad that continues to improve and increase in value, we have every right to be confident and positive on future prospects."

Everton finished fifth in the Premier League in the 2013/14 campaign with a club-record points tally of 72.