Aston Villa announce 3.9m loss
Villa have announced a £3.9m loss after tax for the year ending May 31, 2014 – down from £51.8m for the previous year.
The reduction was mainly due to a £33.2m increase in turnover to £116.9m and a £12.9m reduction in operating expenses to £121.7m.
The increase in turnover was largely down to the new Premier League broadcasting agreements, but the club's commercial and sponsorship revenues also grew.
Chief financial officer Robin Russell said: "We are very pleased to be able to report improved results after a period of heavy financial losses.
"By controlling costs we have been able to take advantage of the new Premier League broadcasting deal to bring the club closer to self-sufficiency.
"Compliance with Financial Fair Play continues to be a key component of our planning and we remain focused on growing the club in a responsible and sustainable way."
Villa are second bottom of the Premier League having replaced ex-boss Paul Lambert with Tim Sherwood this month.
