Manchester United’s quarterly profits soar 558.3%

Manchester United have announced profit growth of 558.3% in their latest quarterly earnings report.

The club pulled in profits of £7.9m in the three months to September 30, up from £1.2m during the same period in 2016.

Revenues for the quarter stood at £141m, growth of 17.3% against the £120.2m reported last year.

United’s matchday takings saw the highest level of growth out of the club’s three core revenue streams, rising by 33.3% to £22.4m

Broadcasting revenue grew 30.9% to £38.1m and commercial by 8.3% to £80.5m.

Of the commercial results, sponsorship revenues accounted for £53.2m in the quarter (up year on year by 13.4%). The growth has been attributed to the club playing a greater number of Tour matches.

Retail, merchandising, apparel and product licensing accounted for the remaining £27.3m of the total commercial revenue, down by £100k or 0.4% in comparison to the same quarter in 2016.

MUFC executive vice chairman Ed Woodward said: “We are just over a quarter of the way through what promises to be another exciting season.

“In the Champions League we have won all four games played to-date; we are through to the Quarter Final of the Carabao Cup; and are looking forward to the next few months as the number of matches ramps up.”

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