Man Utd net profits rise to £23m

Written By Emdua on Selasa, 18 September 2012 | 20.52

Profits at Manchester United jumped 79.2% to £23.3m in the year to 30 June, according to latest figures.

However, the numbers, the first since the football club floated on the New York stock exchange last month, show that total revenues fell 3.3% to £320m.

Earnings from commercial operations, which includes sponsorship, hit a record £117.6, up 13.7%.

Shares in the club were floated 10 August at $14 each, but have since fallen.

The club's borrowings, which has been an issue of concern for fans as well as investors, fell during the year from £459m to £437m.

Manchester United said in a statement that since the flotation, which raised about $233m (£150m) for the club, borrowings had been reduced further.

Executive vice chairman Ed Woodward said: "Fiscal 2012 was the best year ever for Manchester United's commercial business."

According to the club:

  • Sponsorship revenue rose 14.9% to £63m
  • Retail and merchandising revenue rose 8% to £33.8m
  • Revenue from new media and mobile rose 15.5% to £5.2m

However, broadcasting revenues for the year fell 11.3% to £104m, mainly due to the club's early elimination from the Champions League.

18 Sep, 2012


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Source: http://www.bbc.co.uk/news/business-19633967#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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