A property group, founded by the chair of Sheffield United Football Club (SUFC), Kevin McCabe, has announced a £4.7m profit in its yearly figures released on 3 December.

Scarborough Group International, founded by McCabe, currently boasts worldwide property and leisure assets in excess of £1bn. The company's results for the year ending February 2008, also revealed that the company has large-scale development projects in eleven major Chinese cities. McCabe said: "No-one doubts that the western world is facing extraordinary recessionary conditions which could not have been predicted in 2007. Scarborough has adapted quickly to this changed environment in order to reshape, understand and tackle new opportunities."

Scarborough Group currently holds 75 per cent of SUFC following the acquisition of additional shares in May. The club also revealed at the end of November that it had reduced its football-related debt despite recording an operating loss before interest and tax of £3.5m.