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Manchester Utd Returns To Profit

Revenues up and debt down for the Reds

Written by . Published on September 1st 2011.

Manchester Utd Returns To Profit

MANCHESTER United has returned to profit for the year to the end of June, according to accounts published today.

The club made a record £110.9m off the back of a turnover of £331.4m, an increase of 15.7 per cent on the previous year.

The club's gross debt has also fallen by more than £80m to £458.9m, as it prepares for an IPO float in the Far East.

United's parent company, Red Football Joint Venture, made a loss of £108.9m for the year to July 2010, largely due to the cost of setting up a bond scheme to replace debts of more than £500m.

Commercial revenues shot up by 27 per cent to £103.4m, as the club reaped the rewards of a number fo sponsorship deals in the last year, including a new deal with shirt sponsors Aon and a profit share with kit manufacturers Nike.

Matchday revenues increased by 15.7%, including improved sales in matchday hospitality.

The Premiership title and a runners-up sopt in the Champions' League helped pull in media revenues of £119.4m - up 13.9 per cent.

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5 comments so far, continue the conversation, write a comment.

TopchefSeptember 2nd 2011.

By far the greatest the world has ever seen!

the Whalley RangerSeptember 4th 2011.

Another example of elaborate fiddling with figures.

The Glazer's are clever: they don't take out £80m today 'cause they want to talk thickoids into spending £600m for a minority share.

And there are a lot of thickoids around...

the Whalley RangerSeptember 4th 2011.

sorry for the apostrophe - comes to show that includes me!

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