Manchester Utd Announces £110m Profit
Premiership champions Manchester United has reported an annual operating profit of £110.9m, after total revenue rose to £334.1m for the year ending June 2011 – an increase of £45m on the previous year.
Commercial revenue also rose to £103.4m, and the latest figures show that net debt has fallen to £308.3m – down from £376.9m a year earlier.
The club was bought for £800m by the Glazer family in 2005, whose debts led to protesting by supporter groups last season.
The football club is now preparing a partial flotation on the Singapore Stock Exchange – which could raise up to £600m.
Manchester United won the Premier League and reached the final of the Champions League at Wembley last season.
Last month, DHL became the first official training kit sponsor of Manchester United, after signing a four-year-agreement that will see the Premier League champions display the DHL logo on the clubs’ training kit, worn by all first, reserve and youth team players, during domestic competitions.
