But Steve Wharton, the Iron chairman, has predicted this year's profit will be followed by a heavy loss for this season.
"A word of caution, we are forecasting a substantial loss and expenditure on transfer fees is already at £575,000," he said.
"Nevertheless, this is a remarkably strong financial position for a Football League club."
Wharton has also proposed consolidating the club's shareholding, issuing shareholders with one share for every £20 of capital they own rather than the current system which has shares worth 50pence.
He argued this would reduce administration costs for small shareholders, and proposed a minimum purchase of five shares (£100) for new investors.
The club's annual general meeting, when shareholders will be asked to approve the acocunts, will be held at Glanford Park on Monday November 24.