Manchester United have announced their financial results for the third quarter of the financial year. Commercial revenue was more than double matchday revenue in the first nine months of the financial year, leading Andy Green to comment on Twitter that Old Trafford is ‘really a backdrop for brands.’
Manchester United have announced their financial results for the third quarter of the financial year. Commercial revenue was more than double matchday revenue in the first nine months of the financial year, leading Andy Green to comment on Twitter that Old Trafford is ‘really a backdrop for brands.’
Commercial revenue was up 11.7 per cent compared with the third quarter last year and sponsorship revenue was up by 22.1 per cent. However, matchday revenue was down by 31 per cent and broadcasting revenue by 39 per cent, reflecting the effects of being outside the Champions League and fewer Premier League matches in the current quarter.
Cost control was good with staff costs down by 6.2 per cent, although operating costs were up by 8.2 per cent. Debt increased from £351m to £395m, but this largely reflected the fall of the pound against the dollar.
The club is anticipating full year profits of between £103m and £110m.