A second successive annual profit enabled the club to pay off all external debt, while chairman Mohamed Al-Fayed converted outstanding loans to the business into equity.
The news comes on the same day Fulham revealed a profit of £1.2m for the year ended 30 June 2012 - results which follow on from a record profit for the previous 12 months.
The club's Europa League participation, a ninth-placed finish in the Premier League and an increase in attendance figures all contributed to the healthy figures.
Al Fayed said: "Fulham continues to make great strides and, following planning permission for the redevelopment of the Riverside Stand, we will continue to prosper and grow.
"For almost the last 15 years, I have ensured the club moves in the right direction and remains true to our proud history, strong heritage and past traditions."