English Rugby Premiership champions Leicester Tigers has announced a return to profit as well as a record turnover of £18.5 million (US$28.5 million) for the last financial year.

The club made a profit of £284,000 (US$438,000) for the period ending 30 June, compared to a 989,000 (US$1.5 million) loss in 2009.

The increased turnover was partly down to the first phase of the redevelopment of the club's Welford Road stadium, which saw its capacity increased to 24,000.

Executive chairman Peter Tom said: "We are delighted with our performance on and off the field, reflecting the continuing hard work and total commitment for which this club is well renowned.

"I would like to thank all our people for the part they have played in returning the club to profit and keeping the Tigers at the top of its game.

"We look forward to the next stage in the redevelopment of Welford Road and the rising attendances which we're sure will follow. We have a very bright future ahead of us."