Manchester United boast 30% profit increase, despite poor season

0
46

Although things have not gone Manchester United’s way this season in terms of football, it is most definitely going their way in terms of income.

The figures show that the club are continuing to be financially successful, despite having one of their worst ever seasons. They recorded a commercial income of more than £42 million and pre-tax profits of £19.8 million for the three months leading up to December 31, 2013 – a 30% increase from last year.

Executive vice-chairman Ed Woodward admitted that while on-field matters have been disappointing, he is pleased with the club’s financial performance.

“We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the team manager down has acknowledged is disappointing,” he said.

“We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business.”

Although the Red Devils have seen an increase of £7.4 million in broadcasting revenue for the second quarter, their struggles on the pitch have been reflected by a £1.3 million drop in match-day revenue.

Despite this set-back, the club have completed six new sponsorship deals during the quarter, and have plenty of plans up their sleeves in order to strike more deals in the coming months.

The champions currently sit seventh in the Premier League, having dropped 36 points already this season – a record that does not reflect well on their newly-appointed manager David Moyes.

In their present form, United are set to miss out on the lucrative Champions League spots for the first time since 1995-96 – an outcome which could hinder their attempts to attract top-class players in the summer.

The club have never finished lower than third in the 21 years since the Premier League began, so unless things drastically change on the field this season, it looks like they’re going to miss out on more than just a Champions League spot.

Link(s):

www.mancunianmatters.co.uk