Aston Villa announce reduced losses of £3.9m

Aston Villa have announced a £3.9m loss after tax for the year ending May 31, 2014 – significantly 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.