| Pos | Team | Pld | Pts | GD | W | D | L | F | A |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Queen of the South | 36 | 92 | +69 | 29 | 5 | 2 | 92 | 23 |
| 2 | Alloa Athletic | 36 | 67 | +27 | 20 | 7 | 9 | 62 | 35 |
| 3 | Brechin City | 36 | 61 | +13 | 19 | 4 | 13 | 72 | 59 |
| 4 | Forfar Athletic | 36 | 54 | -7 | 17 | 3 | 16 | 67 | 74 |
| 5 | Arbroath | 36 | 52 | -10 | 15 | 7 | 14 | 47 | 57 |
| 6 | Stenhousemuir | 36 | 49 | 0 | 12 | 13 | 11 | 59 | 59 |
| 7 | Ayr United | 36 | 41 | -12 | 12 | 5 | 19 | 53 | 65 |
| 8 | Stranraer | 36 | 37 | -28 | 10 | 7 | 19 | 43 | 71 |
| 9 | East Fife | 36 | 32 | -15 | 8 | 8 | 20 | 50 | 65 |
| 10 | Albion Rovers | 36 | 24 | -37 | 7 | 3 | 26 | 45 | 82 |