Inter reports reduced financial losses, revenue increase

PTI | Milan | Updated: 29-09-2022 09:38 IST | Created: 29-09-2022 09:30 IST
Inter reports reduced financial losses, revenue increase
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Inter Milan reported smaller losses and an increase in revenue for 2021-22 compared to the previous financial year.

At a board of directors meeting on Wednesday, the club presented figures that showed it ended the financial year with a loss of 140 million euros ($135 million) — a reduction of just over 105 million euros ($101 million) compared to the record 245.6 million euro ($236 million) loss it reported last year.

The club also highlighted that its revenues had increased by 75 million euros ($72 million) to 439.6 million euros ($423 million).

Inter labeled the results as "positive" after another season that "was largely affected by the social and economic consequences of the pandemic." In further positive news for Inter, reports in Italy say that Nerazzurri president Steven Zhang is set to inject 100 million euros ($96 million) into the club. Inter added that: "The majority shareholder has already formally expressed his commitment to backing the group by ensuring asset support." Inter finished second in Serie A last season, relinquishing its title to city rival AC Milan.

It is currently seventh in the standings, having lost three of seven matches.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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