As City secured an unprecedented fourth consecutive Premier League title last term, their revenue increased from £712.8 million to the new record for the year ending 30 June.
However, profits fell from £80.4 million during City’s treble-winning 2022-23 campaign to £73.8 million last season.
The drop in broadcast income was attributed to Pep Guardiola’s side failing to replicate their historic run to a first Champions League crown in 2023.
City’s current investments include a £300 million expansion of the north stand at the Etihad Stadium.
Chairman Khaldoon Al Mubarak highlighted the club’s ambitions in their annual report: “Our constant ambition to target and achieve the unprecedented is a mark of the organisation we have become.
“On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture we have built.
“Our focus remains on further evolution and growth, and therefore on creating greater value in all aspects of our business.”
Defeated by Juventus in the Champions League on Wednesday, City face Manchester United in the Premier League on Sunday as they aim to halt a damaging run of one win in 10 matches across all competitions.
The club is at risk of failing to progress to the Champions League last 16 and currently sits eight points behind Premier League leaders Liverpool after a shocking slump in form.
City are also awaiting a verdict on the 115 charges of alleged breaches of financial rules levelled against them by the Premier League.
The club, which has strongly denied the allegations, could face a points deduction or even relegation from the top flight if found guilty.
