On-field success has helped English Premier League club Liverpool FC (LFC) post record revenues for its last financial year.

Reporting its financials for the year to 31 May 2018, the club saw pre-tax profits grow by more than 300 per cent – from £40m to £125m.

The growth was driven by on-field success, which saw the turnover during the period increase by £90m to £455m.

"All three revenue streams saw rises with media revenue increasing by £66m to £220m, commercial revenue increasing by £17m to £154m and match revenue increasing by £7m to £81m," the club said in a statement.

The majority of the increases are a result of the club's qualification for the Champions League and the additional games progressing through to the final.

The club did not participate in any European competition in the previous 2016-17 season.

“What we have seen is a stable and sustained improvement in the club’s financial position over recent years," said Andy Hughes, LFC’s chief operating officer.

"This growth and increase in revenue has enabled us to significantly reinvest both in the playing squad and the football operational infrastructure.

“Financial results do fluctuate depending on player trading costs and timing of payments but what’s clear in these latest results is the further strengthening of our underlying financial footing and profits being reinvested in the squad and infrastructure.

"In addition, the capital investment in our new training complex in Kirkby is well underway which will provide first-class amenities for our players and staff, and will vastly improve sports facilities for the community of Kirkby.”