English Premiership

Man Utd posts record revenues

2013-05-02 14:38
Manchester United logo (File)
London - Manchester United posted a record third-quarter turnover of £91.7m according to figures released to the New York Stock Exchange on Thursday.

The English Premier League champions also said sponsorship had increased by more than 52% and added they expected an overall annual income of £360m.

"Each of our three primary sectors - commercial, broadcasting and matchday - delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)," said United vice-chairperson Ed Woodward.

United have one of the most extensive commercial operations in English football and this was reflected in a 31.9% rise in commercial income on the corresponding three months last year meant overall commercial income has gone up by 27.9% to 114.5 million over the full nine-month period.

Gross debt stands at £367.6m, which while still a huge amount by most standards, nevertheless represents a decrease of 15.9% since June 30 last year.

However, total operating expenses for the third quarter increased 18.6% year-on-year to £79m.

Wages also rose 25.1% to £44.9m due to the impact of new signings - including Robin van Persie and Shinji Kagawa - renegotiated contracts and the growth of United's commercial team.

Read more on:    manchester united  |  epl  |  soccer

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