Manchester United hit with £3.8m quarterly loss

Manchester United have today (May 16) posted a multi-million pound loss for Q3 2017, despite seeing revenues climb 3.1%.

The Premiership club’s total turnover for the three months to March 31 stood at £127.2m, up from £123.4m the year previous.

However, United made a loss of £3.8m during the quarter. Comparatively, Q3 2016 saw the club rake in a profit of £13.7m.

Matchday revenue dipped slightly in Q3, falling year on year by 1.7% to £29.3m, while commercial revenue rose by 1.1% to £66.5m.

MUFC’s broadcasting revenue achieved the highest growth, exceeding Q3 2016’s figure by £3.6m at £31.4m.

Two new partnerships were announced during the quarter – a deal with transportation giant Uber and another with Halal-focused e-marketplace Aladdin Group.

Last year, Manchester United became the first club in the history of English football to drive their annual revenue past the £500m mark.

Executive vice chairman Ed Woodward commented: “As we near the end of the season, I am delighted we have picked up two trophies so far, and look forward to competing for a third in the Europa League final, the only trophy we have never won.

“We are forecasting better full year financial performance than expected and as such have raised our revenue and profit guidance for the year.”

He added: “We look forward to a strong finish to 2016-17, both on and off the pitch.”

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