Manchester City Football Club, MCFC, today released its annual report for 2016-17, announcing the club’s third consecutive year of profitability and ninth successive year of improved financial performance.

The club has reported record revenues of ?473.4million, marking a 21 percent increase from the previous year and breaking ?400million for the first time in Man City history.

A profit of ?1.088 million was posted, despite the club reporting against a 13 - month period which had an adverse impact on profitability. The extended reporting period arises from a move to change the club’s reporting cycle to a July 1st to June 30th year end in order to better align Manchester City FC’s financial year with City Football Group’s growing number of reporting entities.

Commenting on the publication, Khaldoon Al Mubarak, MCFC Chairman, 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 organisation and off-field business have the right symmetry and balance to allow us to continue to further strengthen and grow."

In the report, Al Mubarak observes revenue growth moving "towards the ?500m mark" and reiterates the club’s long held position that "on-field success and financial sustainability must exist hand-in-hand."

The report highlights the incredible achievements of Manchester City’s treble-winning women’s team, which Khaldoon Al Mubarak describes as "an outstanding achievement" that has established the team as a "major force in the game."

Looking forward to the 2017-18 season, the chairman says that the club "enters this season with a justifiable sense of ambition and expectation", a view shared by CEO Ferran Soriano who says that he is "convinced we will see further progress and silverware in the seasons to come."

Manchester City FC is an English Premier League club initially founded in 1880 as St Mark’s West Gorton. It officially became Manchester City FC in 1894 and has since then gone onto win the European Cup Winners’ Cup, four League Championship titles, including two Premier League titles (2012, 2014), and five FA Cups. Manchester City is one of eight teams comprising the City Football Group which includes New York City FC, Melbourne City FC, Yokohama F. Marinos, Club Atletico Torque and FC Girona.