Aston Villa today announces record revenues for the year ended May 31 2011.

Commercial income increased by 15.9% year on year and total income increased by 1.3%, resulting in record income of £92m.

This was achieved despite a backdrop of instability as the 2010-11 season constituted one of the most turbulent in the club's recent history.

The overall group loss for the year increased to £53.9m, from £37.6m in 2009-10.

The key drivers for financial performance in 2010-11 were as follows:

Continued growth of revenues, with a 1.3% growth of total income versus the prior year and record income of £92m

15.9% year on year increase in commercial income. Match day income, however, fell year on year, given fewer games compared to the previous season's strong domestic cup performance

£8.3m reduction in bank borrowings

Exceptional charges of £12.0m relating to changes in football management personnel

Investment of a further £25m into the club by Randy Lerner

"Given the challenging economic environment that we have been experiencing in the West Midlands and indeed globally, we are pleased with the positive trends in our financial performance," said chief financial officer Robin Russell.

"The Board of Aston Villa are confident that the actions taken since the end of the 2010-11 financial year have galvanised the long-term sustainability of the club and have also given us a better financial platform on which to build for future success.

Our objectives are to compete strongly on the pitch and to achieve sustainability as well as compliance with UEFA's Financial Fair Play requirements."