AFC BOURNEMOUTH is 'more secure' than it has ever been following the release of financial accounts, according to the club's chief executive.

The figures submitted by AFC Bournemouth Limited show increased profits and turnover despite a 20 per cent growth in staff costs.

The financial details relate to the 11-month period ending June 30, 2017.

During this time Cherries recorded a profit after tax of £14million, compared to a profit of £3.4million the previous year.

Turnover grew from £87.9million in 2016 to £136.5million in 2017.

A statement released by the club says this was "almost entirely" a result of the increased revenue produced centrally from the new three-year broadcasting and sponsorship deal secured by the Premier League on behalf of its member clubs.

Player registration cost additions for the period were £9.3million, compared with £69.8million in the previous financial period.

The statement says this was in part a result of the change in period-end date, which meant there was no month of July included within the reporting period – historically the month where a large proportion of player transfers occur.

Staff costs increased from £59.6million in 2016 to £71.5million in 2017.

The club says this shows it is offering competitive remuneration packages to "attract and maintain the calibre" of playing and team management staff necessary to allow the club to compete with the aim of remaining in the Premier League.

AFC Bournemouth chief executive, Neill Blake, told the club's official website: “The 2016/17 season saw the club competing in the Premier League, finishing in a record high position of ninth, with 46 points. That was enough to secure Premier League status for a third consecutive season.

“During the financial year, the club's focus was to consolidate its position in the Premier League through targeted expenditure on assets and expertise in the playing squad and supporting infrastructure.

“The directors continue to maintain close control over cash flow and have implemented and maintained policies with the aim of ensuring the club is run in a sustainable and successful manner.

“These policies are seen as vital in order to keep control over all expenditure that the club commits to.

“The club is in a more secure position than it ever has been, with significant recent progress made regarding infrastructure and facilities to ensure that it continues to build on its success.”

The club says the change in financial year end from July 31 to June 30 was made to align internal financial reporting dates with the financial year.