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Manchester City announce halved loss

Posted on Dec 15, 02:21PM | IANS

English champions Manchester City revealed that its pre-tax financial losses for 2011-12 was 93.4 million pounds, down from 189.6m in 2010-11.

The club revealed Friday that its revenues increased 51 percent to 231.1 million pounds, with the club's first appearance in the UEFA Champions League contributing more than 22 million in new revenue, reports Xinhua.

The club's sponsorship deal with Etihad Airways helped commercial partnership revenue double from 48.5m to 97m.

City's operating loss also improved from a record 194.9 million pounds to 104.1m.