Man Utd Boosted By Commercial Income
Manchester United has announced an increase in revenue to more than £220m in the first half of their financial year, following a rise in commercial income, that has seen the club post revenue of £221.4m for the six months to 31st December 2013 – up from £186.4m for the same period last year.
Commercial revenue at the club has soared by 30% during the period, with broadcasting income also up by 24.4%.
Meanwhile, pre-tax profit rose from £22.3m in 2012 to £29.9m, although matchday revenue fell 2.9%.
The club added that revenue for the second quarter of the year was a record £122.9m.
Manchester United also reported a 38% reduction in net finance costs to £5.7m in the second quarter.
Ed Woodward, executive vice chairman, said of the news: ‘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.’
‘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. We are also very pleased to have added a world class player in Juan Mata to our squad, who has already made a positive impact.’
The club’s executive vice chairman also noted that he would not be concerned if the giant of football failed to qualify for the Champions League.
Following a 0-0 draw with second placed Arsenal on Wednesday night, United sit in 7th place, 11 points behind Liverpool in 4th.
