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Manchester City reports loss
England - 22 November, 2004
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Although turnover was up more than 26% to £61.93m, the Premier League club has reported a pre-tax loss of £16.77m for the year ending 31 May 2004, 8% increase from last year’s loss of £15.43m. Net debt increased by over £7m to £62.2m, while £7.7m of the total net debt is owed to chairman John Wardle. The wage-turnover ratio fell from last year’s 72% to 61%.
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