TOWN today confirmed they have made a profit for the first time since coming out of administration in 2003.
But in reporting a surplus of £61,754 on 2005-06, chairman Ken Davy warned that signs for the current season are not as encouraging.
Town made losses of £139,125 in 2003-04 and £392,187 in 2004-05, when Academy costs were included in the accounts.
That means the figure for 2005-06 is a major boost, particularly given confirmation that the £100,000 worth of debt to ex-players is settled.
Davy said the improvement was mainly down to increased gate receipts (from £2.3m to £3.1m as Town had a lucrative FA Cup tie at Chelsea and reached the League I play-offs) and a rise in commercial income (from £1.4m to £1.66m in a year in which both club shops became operational).
Overall turnover rose to £5.3m from £4.1m (it had been £3.5m the year before that).
Davy hailed the beneficial effect of Town's 'affinity partnership' with The Yorkshire Building Society - there were record replica shirt sales - as well as the continued input of the Development Association.
But he pointed out that while Town were "profitable for the first time as a result of the growth in matchday support and the further development of commercial income, unfortunately the early indications for the current year are not quite as encouraging".
In a statement to supporters made in September, Davy estimated that a loss of £454,275 would be made this season, based on an average home attendance of 12,500 (the current figure is 9,532).
MICHAEL COLLINS might not be a politician - but he shares the conviction shown by at least two British Prime Ministers.
Three years ago Tony Blair told his Labour colleagues: "I can only go one way, I've not got a reverse gear."
And even more memorably, Margaret Thatcher vowed to the Conservative conference of 1980: "The lady's not for turning."
Ironically, those words came during keynote speeches in Bournemouth and Brighton respectively.
Town have still to visit both places on League I business this season.
And despite a recent downturn in fortunes, and popularity, for his club, Collins believes there is every chance of picking up victories at both seaside resorts as part of a climb back up the standings.
"These are difficult times, there's no disguising it," said the Halifax-based 20-year-old of a winless spell stretching back seven games (six in the league) before today's home meeting with Northampton.
"We're not getting the victories we should be, and we've got to snap out of this run and bounce back fast. The way to do that is to stick together and do things the correct way, whether it's in training or matches."
Back in September, Collins signed a new contract which runs through to 2009 and at the time, predicted Town were heading towards the Championship.
And when he scored a spectacular winner at Port Vale back on September 21, Peter Jackson's men were in the play-off zone.
Since then, things have turned distinctly sour, with last Saturday's 1-0 loss at Leyton Orient, their eighth in 21 games, leaving Town 17th.
Everyone connected with the club has been feeling the pressure, but Collins, a Republic of Ireland Under 21 international, insists he and his teammates have both the ability and mental resolve to turn things around.
"It's hurting our fans, there's no doubt, but it's hurting the players even more," he said.
"I'll tell you now that every player at this club is feeling the pain at the moment.
"And we realise it's down to us to change the course of this season.
"It's a collective thing. We all take the plaudits in times of success and we must all share the responsibility for what has happened and stick together in order to get things back on track.
"There's no hiding from the fact that if we don't get things sorted and take advantage of the points available over the Christmas period, we will find ourselves in a difficult situation at the foot of the table.
"But the other way of looking at it is that if we can put together the kind of run we had earlier in the season, we will soon be back up there where we should be.
"All games are big, but the next few are huge for Huddersfield Town.
"Draws aren't really good enough at this stage.
"We need wins, and as much as people might think it's ridiculous to keep saying it, I genuinely believe we can get promotion.
"I look at our squad and compare it with the others in this division, and there aren't many players I'd exchange.
"But for whatever reason, we are under-performing and have allowed a bad spell to drag on far too long."