In total, Wolves recorded a net player‑trading profit of £29.2m, compared to the £2.6m loss in 2023–24.
However, the accounts also highlight ongoing financial pressures.
The club’s wage‑to‑turnover ratio rose to 91.2%, with new signings and renewed contracts for existing players contributing to the increase.
Operational costs increased across the board, leaving player trading as the primary source of boosting finances, they said..
Investment in the women’s programme rose to £400,000 from £100,000 the previous year.
The women’s team also benefited from a move to shared training facilities with the academy.
Despite the loss, the board maintained that the club remained financially stable, stating that directors have “a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future”.