Hearts have announced a £2million profit in their annual accounts.
Financial figures applying until June 30 show the Jambos' turnover was down by £4.6million but the club benefited from cash injections from benefactors and transfers - including Aaron Hickey 's move to Bologna.
Director James Anderson was among various parties who contributed a total of £4.7m during the Covid-19 pandemic.
The Foundation of Hearts - who now own the club following a historic takeover - raised £1.6m through fan pledges, whilst income was also aided by Scottish Government schemes and a £500,000 grant from the SFA.
Hickey's transfer fee to Serie A is believed to make up most of the £944,000 brought in via player sales.
Revenue was hit hard by an enforced relegation from the Premiership to the Championship and stadiums being closed for the 2020/21 campaign but the club were pleased to be able to offset the impact of an unprecedented period.
A Hearts statement said: “Today Heart of Midlothian PLC published its Annual Report for the year ended June 30, 2021.
“In a climate where lockdown constraints and the absence of fans would have a huge impact on all income streams, the board agreed a financial plan for year 20/21 which anticipated a significant drop in revenue and a financial loss across the year.
“While the assumptions underpinning that plan were very conservative, the impact of Covid was even greater than expected.
“All games across the season were played ‘behind closed doors’, heavily impacting our ticketing, commercial and retail income; and a second extended lockdown caused serious disruption to our non-matchday operations, including our Conference and Banqueting business, our Skyline Restaurant and our Supporters Bar.
“Our financial results for the year reflect the significant impact posed by the Covid pandemic. We are nevertheless pleased to announce a profit of over £2m for the year.
“As is clear from our figures, our principal benefactors and the Foundation of Hearts once again, made a number of very generous donations, which helped us enormously during this difficult year.
“The Covid-19 restrictions, coupled with the financial consequences of our enforced demotion to the Championship, saw our turnover reduced from £12.3m to £7.7m for the financial year.
“This fall in income was, to some extent, off-set by Government support schemes, such as the Furlough Scheme, COVID related grants from the Scottish Government and SPFL Trust, and player sales.
“In short, while this was an even more difficult year than could reasonably have been foreseen, we have come through it in good shape and ready to move forward with confidence.”
