Manchester City announces profit for third successive year

Manchester City

Manchester City has announced the Club’s third consecutive year of profitability and the ninth successive year of improved financial performance in its 2016-17

Record revenues of £473 million posted, a 21% increase from the previous period.

Manchester City Football Club has released its Annual Report for 2016-17, announcing the Club’s third consecutive year of profitability and the ninth successive year of improved financial performance.

The Club has reported record revenues of £473.4 ($621.92) million, marking a 21% increase from the previous year and breaking £400 million ($ 525 million) for the first time in City history.

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A profit of £1.088 million ($1.43 million) was posted, despite the club reporting against a 13-month period which had an adverse impact on profitability. The extended reporting period arises from a move to change the Club’s reporting cycle to a July 1st to June 30th year end in order to better align Manchester City FC’s financial year with City Football Group’s growing number of reporting entities.

MCFC Chairman Khaldoon Al Mubarak said, “This report is about making sure our fans and our partners can see the true detailed status of every aspect of the club.  What hopefully comes across is that the football organization and off-field business have the right symmetry and balance to allow us to continue to further strengthen and grow.”

Chairman Khaldoon Al Mubarak, in the report, has observed the revenue growth moving “towards the £500m ($650m) mark” and reiterates the club’s long held position that “on-field success and financial sustainability must exist hand-in-hand”.

Despite the men’s team finishing the season without silverware and the disappointment that comes with that, the Chairman also reflects on “a season of promise and of some very real highlights” and the fact that “targeted investment in the summer of 2016 in some talented young players, blended together with the existing capabilities in our squad, led to an impressive start to the season and some memorable performances”.

The report also highlights the incredible achievements of Manchester City’s treble-winning women’s team.