THE seven-figure transfers of Kemar Roofe and Callum O'Dowda saw Oxford United announce a profit for the first time in six years.

Accounts for the year ending June 30, 2017 show a profit of £649,984.

It ends a run a five successive years in the red, four of which were in exces of £1million.

The sales of Roofe and O'Dowda in July 2016 were pivotal.

Leeds United bought Roofe for £3m, although a sizeable chunk went to former club West Bromwich Albion, while O'Dowda's move to Bristol City was believed to be worth an initial £1.2m, rising to £1.6m based on performances.

Before transfer fees worth £3.4m are added into the figures, United had an operating loss of £1.5m - equating to just under £30,000 per week.

The accounts show some of the income was reinvested.

A total of £1,027,001 was diverted to sign Curtis Nelson, Marvin Johnson, Ryan Ledson and Kane Hemmings in the same transfer window.

Johnson was sold 12 months later to Middlesbrough for a fee believed to be in the region of £2.5m.

That, plus the departure of John Lundstram to Sheffield United, will net United around £3m in the year ending June 2018, according to a note in the accounts.

They also state by last summer Darryl Eales's ENSCO 1070 parent company loaned an additional £1.25m to United during the year, taking the total owed to £11.8m.

Eales sold his controlling stake in the club to Sumrith Thanakarnjanasuth in February.

The figure disputed with landlords Firoka over the service charge at the Kassam Stadium is also revealed as £521,418.

United believe they do not owe anything and have taken the matter to arbitration, which is still ongoing.