United expects strong financial finish

Manchester United has lifted revenue and profit guidance for the year.   Reporting its latest quarterly results, it said that it expected ‘a strong finish to 2016-17 both on and off the pitch.’  It announced projected revenues of £560m-£570m for the year, up from £530m-£540m.

United fell into an operating loss of £4.1m in the three months to the end of March from a profit of £23.2m in the same period last year.  Net income also fell into the red at a loss of £3.8m from a gain of £13.7m in 2016.

Manchester United has lifted revenue and profit guidance for the year.   Reporting its latest quarterly results, it said that it expected ‘a strong finish to 2016-17 both on and off the pitch.’  It announced projected revenues of £560m-£570m for the year, up from £530m-£540m.

United fell into an operating loss of £4.1m in the three months to the end of March from a profit of £23.2m in the same period last year.  Net income also fell into the red at a loss of £3.8m from a gain of £13.7m in 2016.

Broadcasting revenues climbed 12.9 per cent to £31.4m but earnings from matches slipped 1.3 per cent to £29.3m.  Sponsorship revenues rose £800,000.

Net debt was £366.6m up by £12m, reflecting the effect of the weak pound against the dollar.