Tuesday 20 August 2019

Manchester United announce increase in profits

General view of Old Trafford
General view of Old Trafford

Manchester United have announced first quarter revenues of £141m – up 17 per cent from the first quarter of the last fiscal year, with an operating profit of £15.2m.

The figures, relating to the period between July and September of this year, take into account the club's pre-season tour of the United States and the summer signings of Romelu Lukaku, Nemanja Matic and Victor Lindelof.

Ed Woodward, the club's executive vice-chairman, said: "We are just over a quarter of the way through what promises to be another exciting season.

"In the Champions League we have won all four games played to-date; we are through to the quarter final of the Carabao Cup; and are looking forward to the next few months as the number of matches ramps up."

The club's total debt, a point of contention ever since the Glazers' controversial takeover in 2005, now stands at £268.1m, down almost 21 per cent from the same period last year.

For the forthcoming fiscal year, the club expects total revenue to be between £575m and £585m.

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