Relegated Birmingham have been boosted by a big leap in turnover for the first half of last season.
The increase followed their promotion to the Premier League in 2007.
Over the six months up to February 2008, turnover was £32.6million, up from £14.3million for the corresponding period 12 months previously when City were in the Championship.
Operating profit was up from £3million to £7.8million, although those figures are likely to decline again following Blues' relegation back to the second tier this season.
In a statement released to the Stock Exchange this morning, managing director Karren Brady said: "The club's relegation will have a very negative effect on the business but we believe we have the right management team in place to regain membership of the Premier League at the first attempt."