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		</div><p>Manchester City made a profit of £20.5million and generated record revenues of £398.1million during the 2015-16 season, the club have revealed.</p>
<p>It is the second successive year the club have recorded a surplus and underlines their continuing growth under the ownership of Sheikh Mansour and his Abu Dhabi United Group investment firm.</p>
<p>The figures, published in the club&#8217;s latest annual report, also show City are operating on a 50 per cent wage-revenue ratio and with zero financial debt.</p>
<p>City were transformed when Sheikh Mansour bought the club in 2008 and immediately bankrolled lavish spending on players.</p>
<p>Inevitably, heavy losses were sustained but the subsequent improvements on the field have been matched by developments off it and financial performance has improved year-on-year for the past eight years.</p>
<p>As recently as 2012 City sustained a £98million loss but the club returned to the black by generating an £11million profit last year and the upward trajectory has continued.</p>
<p>The £398.1million revenue figure represents an 11 per cent improvement on last year&#8217;s £351.8million and is made up largely of commercial income (£177.9million) and broadcasting money (£161.4million). Matchday income accounted for £52.5million of the total, an increase of 21 per cent.</p>
<p>All three areas benefited from City&#8217;s run to the Champions League semi-finals, Capital One Cup victory and Premier League top-four finish. Matchday income was also swelled the increase in capacity at the Etihad Stadium, which saw average Premier League attendances rise by more than 8,000 to 54,041.</p>
<p>Other significant activity included an investment in City&#8217;s parent company, City Football Group, by China Media Capital Holdings.</p>
<p>Chairman Khaldoon Al-Mubarak hopes the year proves a turning point in the club&#8217;s evolution, with City becoming self-sustaining at elite level.</p>
<p>He wrote: &#8220;The transformation of Manchester City under the ownership of HH Sheikh Mansour bin Zayed Al Nahyan has never been anything other than a long-term project. We have set ambitious goals and achieved many of them faster than expected in the last eight years, but we have never underestimated the scale of the undertaking.</p>
<p>&#8220;Manchester City has now reached a level of sporting and commercial maturity that allows one to feed the other. (This is) the vision for success and sustainability that we have been working towards since 2008.&#8221;</p>
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