I'd be wary of taking this result too well. We clearly had a very good year with player sales and European money. At present, that is an unsustainable performance though. We will benefit for 3 years as they spread the reward to ensure a better wage spend but this is money going out of the club into the pockets of players. If we don't progress and get more European football and bigger attendances this will be a short lived boom.
The debt position is confusing. They are reporting 'net debt' as £6.5m which takes into account all liabilities short and long term but balances them off against cash and assets. I don't think they are reporting the real debt figure there, which is the one which runs into double figures. This may be a perfectly acceptable way to report debt but I'm not sure it is as simple as saying that £13m is now £6.5m, our cash chest is probably quite high and would be removed from the net debt but this money has been allocated to be spent over the next three years. I could be talking pish but I'm wary of too much celebrating right now.