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Leicester City made a loss of £15.2m in the past financial year, according to figures released by the football club.

The club's losses increased by £7.7m during the year ending 31 May 2011, compared to the previous 12 months.

It also shows its Thai-based owners, Asia Football Investments, loaned the club £28m in that period and have since put in a further £25.6m.

The club said it was working hard to increase its commercial revenue.

Chief executive officer Susan Whelan said: "This season's signing of major sponsorship agreements, with King Power - in relation to the naming rights of the stadium - and Air Asia as the Club's Airline Partner, which followed the sponsorship agreement of 2010/11 with Singha Beer, is part of our strategy to increase income and to build our profile in the UK and the Far East.

"The goal of this club remains to achieve promotion at the earliest possible time. We believe that we now have a robust infrastructure and management team in place to sustain the long-term future of the club."

The Foxes are currently 12th in the Championship, eight points off a play-off place.

The club said it had invested heavily in the playing squad as part of its aim to reach the Premier League.

Figures showed staff costs rose by £2.1m to £16.6m.

The Thai consortium took over the club from Milan Mandaric in August 2010.