NEWPORT County AFC have reported a profit for the 2015/16 season, boosted by the sale of Regan Poole to Manchester United, Aaron Collins to Wolverhampton Wanderers and a sell-on fee from Conor Washington's transfer from Peterborough United to Queens Park Rangers.

According to the Exiles’ latest accounts, a pre-tax profit of £339,522 was achieved in the year ending on June 30 last year, compared to a £676,909 loss in 2014/15. Turnover also increased to £2.04m from £1.97m the year before.

The club cited the £723,000 from the sale of Poole to Manchester United and Collins to Wolverhampton Wanderers, as well as a sell-on fee from Washington's transfer from Peterborough to QPR, as the major factor in the improved financial performance.

In their report accompanying the accounts, the directors said: "The club has one of the smaller supporter bases in League Two and so is always going to struggle to compete financially with many of its rivals.

“For this reason, if the club can generate transfer fee income from the occasional sale of players developed through our academy, it will allow the club to compete more effectively."

Operating losses, before the sale of players and exceptional items, also reduced to £360,000 from £760,000.

This was put down to improved cost control and the club's FA Cup run, where County reached the third round for the first time since 1986, losing to Blackburn Rovers.

Increased income also came from £236,000 raised by Newport County Supporters' Trust to acquire the club during the period, and a £200,000 increase in distributions from the Premier League.

This has allowed the Exiles to improve their financial position from almost £300,000 of unsustainable debt at June 30 in 2015, to a £270,000 surplus a year later.

The club holds its AGM in the Bisley Suite at Rodney Parade on Thursday, January 19, at 7.30pm.