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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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By far the greatest the world has ever seen!
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...
sorry for the apostrophe - comes to show that includes me!