Villa report financial improvement
Aston Villa have announced a £3.9million loss after tax for the year ending May 31, 2014 - down from £51.8million for the previous year.
The reduction was mainly due to a £33.2million increase in turnover to £116.9million and a £12.9million reduction in operating expenses to £121.7million.
The increase in turnover was largely down to the new Barclays 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 Barclays Premier League having replaced ex-boss Paul Lambert with Tim Sherwood this month.