Manchester City announce record annual revenues since the existence of the Club (Details, pics)

Premier League leaders Manchester City have announced record revenues of £473.4 million, with the Sky Blues continuing to build a successful and profitable club.

According to Jonathan Smith of ESPN, City have now registered a profit for a third year in a row.

The club's annual statement show profits have slipped by £20.5 million from the previous year, but City said this is because of an extended reporting period.

Per Smith, City chairman Khaldoon Al Mubarak was delighted with the latest financial results:

"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."