The Football Association of Ireland (FAI) has announced that clubs in the Airtricity League made a collective profit for the year 2012.
A review of audited accounts showed that the 19 clubs within the league generated a collective profit of €241,544, which is a significant improvement upon recent years.
"This is a significant milestone for our clubs and represents a major turnaround in club finances since the FAI took over the League in 2007," said the Director of the Airticity League, Fran Gavin.
Since the FAI took over the affairs of the league in 2007, financial losses for clubs have significantly reduced. In 2007, losses were reported at €6.9 million but were dramatically reduced in 2010 to €2.7 million.
Despite the positive development, Gavin warned that clubs should not become 'complacent' and stressed the importance of ensuring 'prudence' in the coming years.
He said: "Our clubs should be congratulated for the achievement, however, we cannot be complacent."
"Collectively, we must continue to ensure prudence in the interests of supporters and the Airtricity League as a whole, ensuring that clubs develop sustainably with a focus on facilities, coaching and playing squads to continue the upward trend."