Berwick Rangers have posted a profit of £153,000 during the course of the last financial year. Chairman Brian Porteous said the club was now "debt free" and added that there were not many in Scotland who could boast that there were in this position.
One of the reasons for the profit was the Scottish Cup tie against Celtic which brought in a six figure sum. This helped increase the Third Division outfit's turnover from £261,000 to £470,000 in 2011. Last year Berwick recorded a loss of £3,700.
Mr Porteous told the club's annual general meeting:
"The Celtic game allowed us to clear Berwick Rangers Football Club's debt and allowed us to run this season without the use of the bank's overdraft facility, for the first time in seven years that I have been a director.
"It has been hard work and may I say still is given the costs of running a professional football team no matter which league we are in. The Celtic game after off takes was worth over £100,000 to us and it is obvious that without that money we would not have made a profit.
"It means we are now debt free and we are ahead of out five year business plan which we set when we took over. The club is moving in the right direction and we will be doing everything in our power to ensure that happens in the future as well."