Manchester United profits skyrocket by 165%

Manchester United saw strong growth in their commercial and broadcasting revenues during the six months ending December 31, with overall profits soaring by 165%.

The club’s profit during the half-year period hit £23.6m, up from £8.9m the year previous, while commercial takings increased year on year by 33% to £137.3m. Earnings from broadcasting streams, meanwhile, grew by 43.6% to reach £64.9m.

The club’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached £97.7m at the close of 2015, which is £35m more than the year previous.

During the six months, United signed global deals with a number of firms in a bid to expand their brand presence overseas, including isotonic drink brand YOU.C1000, digital media platform Sina Sports, Singaporean property investment business Rowsley Ltd and football media company SuperSoccer.

United’s executive vice chairman, Ed Woodward, said: “Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the club.

“Our solid results off the pitch help contribute to what remains our number one priority - success on the pitch.”

The Red Devils also managed to shrink their net debt in the six months to December 31, reducing the figure from £343.4m at the close of 2014 to £322.1m.

For the full 2016 fiscal year, the club expect their adjusted EBITDA to rest between £178m and £188m, and their total revenues from £500m to £510m.

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