English Premiership

Man United post record profits

2011-09-01 14:35

London - English champions Manchester United posted record operating profits of 110.9million ($179.7million) for the past financial year, figures released Thursday showed.

The Old Trafford club have also recorded a record revenue of 334.1million - an increase of 45million from last year and passing 300 million for the first time - according to figures for the year ended June 30, 2011.

United, who won the Premier League title and reached the Champions League final during the period, have also recorded a commercial turnover of 103.4million - which doesn't include a new 10 million a year sponsorship deal with global delivery company DHL.

The figures were published as United considered a plan to raise more than 600 million by selling shares on the Singapore Stock Exchange.

That would help the Old Trafford club, owned by the US-based Glazer family, pay down a net debt that now stands at 308.3million - down from 376.9million according to the new figures.

The new results contrast markedly with last year's figures when losses hit a record 83.3 million, primarily as a result of the cost of a bond issue.

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