Kevin McCabe says Sheffield United's off-field business interests continue to thrive despite disappointment in the Championship this season.Following relegation from the Premier League and "significant investment in the playing squad", the Blades have revealed operating profits dipped to £1.3million from £2.6million in 2006.

The club have also made a loss of £100,000 - compared to a £1.3million profit in 2006 - while a decrease in television revenues for this season saw turnover drop from nearly £26million to just over £17million.

In a statement to shareholders, chairman McCabe said: "The development of the Blades as a leisure, services and property company with an international portfolio of football brands at its core has progressed, despite the temporary setback of our current Championship league position.

"Our primary objective remains to return to the top echelon of football as soon as possible.

"We intend to sensibly invest in both the salary level and squad quality to enable us to maximise our chances of an early return to the Premier League."

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