A strong financial performance could pave the way for the development of Aberdeen Football Club’s (AFC) new stadium - although any move is likely to be at least five years away.

The Scottish Premier League club revealed solid results, posting an operating profit of £509,000 and record turnover of £13.1m for the year ending 30 June 2015.

Club chair Stewart Milne said that the strengthening of AFC’s balance sheet meant it was “in a much better position” to deliver the “much sought-after” training facilities and stadium.

He added that he was “encouraged by the progress being made” with Aberdeen’s City Council and development partner Loirston over the building of the ground at the club’s preferred site, Loirston Loch.

“While discussions are ongoing, we are still optimistic that we can reach a satisfactory arrangement among the parties to allow the development to progress,” said Milne.

Last August, Milne revealed that the 21,000 capacity stadium was to be built, with Aberdeen set to move from its current Pittodrie ground in time for the 2017/18 season.

However, it is understood that the timescale is being viewed as increasingly optimistic by the Aberdeen board, with any move likely to be at least five years from now.

During the presentation of the results, Milne also revealed that the ambition to develop new training facilities at Aberdeen University’s Balgownie playing fields - for the first team, under-20s team and youth development team - had hit a “setback”.

“Unfortunately, despite much dialogue and debate, the university and the club could not ultimately reach an agreement on the utilisation of the proposed facilities and we have had to turn our attentions elsewhere,” Milne added.

“I would add that negotiations between the two parties were entirely amicable and we continue to work with the University of Aberdeen on a number of other initiatives.”

The Balgownie facilities would have also been used by the Aberdeen FC Community Trust.