RANGERS have posted an pre-tax loss of £278,000 for the six months to December 31, 2016.

The unaudited accounts for Rangers International Football Club plc show an improvement on the £333,000 deficit of the previous year.

The club said it did not need extra investment to see them through to the end of the season due to their on-field performance.

Rangers said the ongoing dispute with Sports Direct is the "only significant issue that still adversely affects the trading performance".

Revenue has been boosted by £5.3million last year to £16.3million thanks to increased crowds at Ibrox and the Light Blues’ promotion back to the Premiership.

That has led to a trading profit of £294,000 against a £532,000 loss last year.

But it turned into a pre-tax loss due to other costs including £451,000 classed only as "other charges", and losses on player registrations and assets.

In a statement, the board said: "The results for the six month period have mainly been driven by the club’s return to the SPFL Premiership.

"Overall it is an encouraging financial performance that reflects the move to a more normalized trading environment as the numerous event risks that have bedeviled the club’s operations over the last few years have been brought under control."

The club added it is "well on its way to achieving a sustainable business model while continuing to invest in infrastructure and the player squad."

It added: "Reliance is still placed on shareholders to fund the shortfall that is required during the current rebuilding phase.

"Whilst additional funds are available if required by the club, no further funding from investors is anticipated in the balance of this financial year to June 2017 due to the team’s football performance and progression to the William Hill Scottish Cup semi-finals."

The club added: "Executive management is increasingly able to focus its attention on the club's core footballing activities."