Everton have posted financial losses for a seventh consecutive year.
Accounts for the period ending June 30, 2024 revealed the club suffered a £53.2 million deficit despite a significant reduction on the previous 12 months.
The Blues had recorded an £89.1M shortfall in that 2022/23 financial year in addition to an equally concerning a wage-to-turnover ratio that stood at 92%.
But Goodison Park chiefs confirmed on Monday those figures have now dwindled with a £14.7M turnover increase alongside a healthier ratio of 81%.
Matchday revenue rose by £1.8M in gate receipts due to additional domestic cup ties while broadcast earnings were also improved by a further £13.2m.
The accounting period marked the final full year of Farhad Moshri’s time as Everton majority shareholder before handing over control to The Friedkin Group.
Interim chief executive Colin Chong said: “Since the accounting period ended, the takeover process has resulted in a significant strengthening of our financial platform—something that is not reflected in these figures but has already made a major impact on our long-term stability.
“Despite the challenges we have faced in recent years, and during the accounting period covered by these accounts, the hard work of everyone across the club—on and off the pitch—has ensured we have continued to move forward.
“That is particularly true of the progress on Everton Stadium, a project that was maintained at pace. The commitment to delivering our new home, while continuing to navigate a complex financial landscape, has been exceptional.
“With new ownership, a world-class stadium opening at the start of the 2025/26 season, and a clear plan for ongoing sustainability, we can approach the next chapter of our club’s future with confidence.”