Premier League side Queens Park Rangers have announced a loss of £9.8m for last season up to May 2014 in their latest financial report.
The Hoops, who were promoted from the Championship last season, have brought that number down since this time last year when they revealed losses of £65.4m.
In a statement on their official website, QPR have said that the figures are in line with their ambitions to reduce costs at the club.
"QPR filed its accounts for the year ending May 2014 showing the club posted a loss for the year of £9.8m," the statement read. "Expenditure was reduced by £22m mainly driven by lower player costs and this trend will continue in future years as the club will continue to bring losses down.
"In addition the club's shareholders reiterated their long term support for the club by strengthening the club's balance sheet by writing off £60m of shareholder loans.
"The club's shareholders and directors are of the opinion that the club is moving in the right direction and on track with its mid-term and long-term business plans."
QPR are currently 17th in the Premier League table, out of the relegation zone on goal difference.
