The new Main Stand at Anfield earned Liverpool an extra £12 million in its first season as the club's latest financial accounts show a reported profit after tax of £39m.
Liverpool announced on Thursday they had filed their annual accounts for the year up to May 31, 2017, which sees the club set to record a profit after last season's loss of around £20m.
The accounts show that overall revenue has increased by £62m to £364m with help from growth in three main revenue streams -- media, commercial and matchday.
The revenue from Champions League participation this season and transfer activity relating to the signing of Virgil van Dijk and Philippe Coutinho's sale are not included in these accounts, which cover the 2016-17 season.
"With the full support of [Fenway Sports Group], we have significantly improved the club's financial position over the past seven years and these results further demonstrate our solid financial progress -- despite the ever-rising costs in football," said Andy Hughes, Liverpool's chief operating officer.
"During the seven years, we have seen operating profits one year and losses in others -- a situation which can be attributed, in the main, to player trading costs and the timing of payments. What is important is the underlying trend that has continued with the aim of strengthening our financial position with profits being reinvested back into the club and players, allowing this long-term stability to become a reality."
The redeveloped Main Stand, which opened last season, increased Anfield's overall capacity to 54,074 and led to matchday revenue increasing by £12m to £74m "mainly as a result in the increased hospitality sales," the club said.
Liverpool could expand Anfield even further, having had outline planning permission in place for possible redevelopment of the Anfield Road end since 2014.
As he said in May 2017, Hughes told the Liverpool Echo that the club are still exploring the possibility of taking Anfield's capacity into the region of 60,000.
"Work continues on the Anfield Road project," he said. We need to make sure that design, feasibility, cost, capacity and economic viability all make sense.
"We're still working on all those things. We're going through exactly the same process we went through on the Main Stand. We're happy with the progress we're making and obviously, when we get through those next steps, we'll update everyone."
On the pitch, the 2016-17 campaign saw Jurgen Klopp make six additions to his first-team squad, with seven players also renewing their Liverpool contracts.
"Performance on the pitch and the reinvestment in our squad is always a priority, and following the club's record signing in January, we will look to invest again in the summer," Hughes said.