Sheffield Wednesday have reduced their losses by �250,000 over the last year, reports BBC Radio Sheffield. The club's annual accounts show the Owls made a loss of �180,000 in the 12 months up to May 2006, compared to over �2.5m the year before.
The improvement is down to a 20 per cent increase in turnover following promotion to the Championship.
Chairman Dave Allen said: "The results show the club is trading successfully and showing excellent progress."
Commercial revenue is up by just over �1m and gate receipts are up by just over 7 per cent to over �5m.
The debt to the bank is down �400,000 to 22.23m.
Allen added: "There have been talks over the past year with would be investors but nothing is likely to happen until 51 per cent of the shares are available."
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