Manchester City generated record revenues of £715m last season, but profits fell on the previous 12 months.
For the 2023/24 season, when Pep Guardiola's side claimed a fourth successive Premier League title, revenues increased from £712.8m to £715m for the year ending 30 June.
However, profits fell from £80.4m in City's treble-winning season to £73.8m, with broadcast income reduced by Guardiola's side losing the Champions League final.
City's current investments include a £300 million expansion of the Etihad Stadium's North Stand.
Khaldoun Al-Mubarak, Chairman of the Board of Directors, said in the club’s annual report: “Our constant ambition to target and achieve the unprecedented is a sign of the organization we have become.
“On and off the field, our passion for the next challenge is grounded in intentional, detailed planning and a shared belief in the collaborative learning culture we have built.
“Our focus remains on further development and growth and thus creating more value in all aspects of our business.”
City are awaiting a decision on more than 100 charges relating to alleged financial breaches brought against them by the Premier League, which were only briefly mentioned in the financial report. The club denied all charges.
