The market remained unimpressed by Birmingham City's preliminary results, which showed ballooning wage costs. However, the effects of the £1.5m increase in wages, an increasing burden for the football industry, was cushioned at the bottom line by a £2.2m profit from the disposal of players. Pre-tax losses came in at £1.5m, on turnover ahead 11% to £9.4m. On the pitch, BC FC's performance has been altogether stronger. As well as reaching the semi-finals in the Worthington Cup, Birmingham is now sitting in third place in the First Division - in tantalising reach of promotion to the Premier League, and the increased media revenues this promises. Birmingham City also continues to roll-out its non-football services to its supporter base. Blues gas, electricity and water will be the new year's addition to a stable of services which already offers Blues telecom, Blues funeral services, Blues mortgages and Blues health insurance.

Birmingham City	AIM	£19.74m	24.00p	0.00p
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