ALBION have today announced a record £11.3million pre-tax profit for the year ending June 30, 2008.

This was largely generated by player sales of £18.1million and has been reinvested by the club in the playing squad as well as stadium and training ground infrastructure improvements, to leave a net debt of £7million, up from £4million the previous year.

Albion made ten permanent signings during the summer at a cost of £21.3million, plus the loan capture of Ryan Donk.

And the club smashed their transfer record with the £4.7million signing of Borja Valero.

Chairman Jeremy Peace said: "We had a very successful season last year, not only winning the Championship but reaching the semi-finals of the FA Cup.

"Financially we've also had a good year and the club is in a strong position.

"We've invested heavily in the playing squad and in the infrastructure of the club.

"And if we want to further invest this January or next summer we have the ability to do so within the financial constraints that we place on the club.

"We have to be cleverer in the way we spend our money.

"Areas such as player recruitment, the sports science department and Academy have been further improved this summer.

"By investing in these areas we can try to compete with the larger clubs and we'll continue such investment over the coming seasons.

"Hopefully that will enable us to continue to grow and give us a chance of remaining in the top flight."

The club has invested £3.5million in the newly-refurbished West Stand.

And an average 11 per cent reduction in season ticket prices across all categories if purchased before April 30 prompted club record and near sell-out sales of 21,700 season tickets.

Fans continue to enjoy value for money, with season ticket holders now able to watch Premier League football at The Hawthorns at an average cost of just £13.68 per game.