Manchester City announce halved loss

London: English champions Manchester City revealed that its pre-tax financial losses for 2011-12 was 93.4 million pounds, down from 189.6m in 2010-11.

The club revealed Friday that its revenues increased 51 percent to 231.1 million pounds, with the club`s first appearance in the UEFA Champions League contributing more than 22 million in new revenue, reports Xinhua. The club`s sponsorship deal with Etihad Airways helped commercial partnership revenue double from 48.5m to 97m. City`s operating loss also improved from a record 194.9 million pounds to 104.1m. IANS