North West Business Richard Frost

Premier League leaders Manchester City have reported record revenues and their third consecutive year of profitability.

The club have posted revenues of £473.4m in the 13-month period ending 30 June 2017, which represents a 21 per cent increase from the previous and the first time in history that it has broken the £400m mark. Growth in both commercial and broadcast revenue was the said to be the primary driver for the increase in revenue on the previous season.

Broadcast revenue was reported at £203.5m, an increase of 26.1 per cent, mainly as a result of the new Premier League deal which began in the 2016/17 season.

An increase in sponsorship deals during the period resulted in growth in commercial revenue of 23 per cent to £218m.

Matchday revenue remained consistent as the Etihad Stadium was host to a total of 26 home games, with average attendance at the 19 Premier League home games of 54,019.

A profit of £1.1m on ordinary activities after tax was also posted.

The extended 13-month reporting period arose from a move to change the club's reporting cycle to a 30 June year end in order to better align Manchester City's financial year with City Football Group's growing number of reporting entities.

Manchester City chairman Khaldoon Al Mubarak said: "This report is about making sure our fans and our partners can see the true detailed status of every aspect of the club.

"What hopefully comes across is that the football organization and off-field business have the right symmetry and balance to allow us to continue to further strengthen and grow."

Manchester City are owned by Sheikh Mansour bin Zayed Al Nahyan via his investment company Abu Dhabi United Group.