The Owls chairman, under fire from some sections of the crowd, has seen turnover increase by 20per cent to £11.6million and commercial revenues (not including TV money) up 24per cent to £5.4million.
Allen said through a statement on the club's official site: "The business is being run in a proper fashion and I would like to place on record my thanks to the chief executive and his staff at the club for their continued sterling efforts.
They have been cut to an absolute minimum but what we have is gilt-edged. They know the business and they work hard at it."
Leisure tycoon Allen also hopes to get backing from Sheffield City Council to get planning permission to sell Middlewood training ground after initial plans were rejected.
He added: "We are still working very hard with the council to achieve our goal of gaining planning permission for the redevelopment of our training ground.
If successful we hope, this will dramatically reduce the debt and transform our position from one where we are continually on the precipice to one from which we can move forward with confidence."