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Manchester City reports losses
England - 07 November, 2005
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The Premier League club whose shares trade on Ofex , posted slightly narrower losses for the year to May 2005, and said the sale of Shaun Wright-Phillips to Chelsea for GBP 21m will help alleviate some of its debts.
For the year to May 31, the club recorded a pre-tax loss of GBP15.6m against GBP 16.8m a year earlier. Turnover was reported GBP 60.9m, down from last year’s GBP 61.9m. Operating profits before player transfers was GBP 3.5m compared to last year’s GBP 4m. Total debt reported GBP 57.7m compared to last year’s GBP 62.2m.
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