Villa announce reduced losses

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.

Robin Russell, chief financial officer, told the club’s official website: “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.