Baggies are top of the finance table in the West Midlands

The Baggies' £6m profit on £69.7m turnover to June 2013, posted at yesterday's AGM in London, will come as scant consolation to fans with the club in a relegation fight and chairman Jeremy Peace under increasing pressure.

The big losers were Wolves, whose £30.4m loss on £32.1m turnover was a sign of the times after successive relegations, and Villa, who are £51.8m in the red despite bringing in £83.7m.

Walsall were the only other club in the region to post a profit, making £23,000 on a £4.8m turnover.

Wolves have been hit hardest over the last 12 months, with revenues plummeting from £60.6m in their last year in the Premier League to £32.1m last year, a drop of 47 per cent.

Wages haven't tumbled in line with the club's fortunes however, and their £31.1m wage bill was a staggering 97 per cent of their turnover of £32.1m.

Birmingham City's £22.9m wage bill accounts for almost 95 per cent of revenue and Villa paid out £71.9m – 86 per cent of total revenue.

Albion are yet to file accounts with Companies House, so their wages figure isn't available, while Walsall invested £2.5m on wages of its £4.8m turnover.

Villa's turnover rose to £83.7m, from £80m the year before, while Albion's turnover of £69.7m compares to £66.7m.

At Villa, the previous balance sheets were propped up by major sales such as Stewart Downing and Ashley Young, but there was no such knight in shining armour last year.

Blues suffered as a result of the end of parachute payments given to clubs relegated from the Premier League.

The results confirm that the Premier League remains the only place to be in terms of income, with the two top flight clubs seeing a rise in revenue.