Record turnover figures for Man Utd

Manchester United posted a record third-quarter turnover of £91.7million in figures released to the New York Stock Exchange.

Last Updated: 02/05/13 at 14:33 Post Comment

Manchester United: Record third-quarter turnover

Manchester United: Record third-quarter turnover

Manchester United posted a record third-quarter turnover of £91.7million in figures released to the New York Stock Exchange on Thursday.

United also outlined an increase of 52.2 per cent in sponsorship revenue and have adjusted expectations of overall annual income to £360million.

Red Devils executive vice-chairman Ed Woodward said: "Each of our three primary sectors - commercial, broadcasting and matchday - delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)."

United's powerful commercial arm made a massive contribution to the results.

A rise of 31.9 per cent on the corresponding three months last year means overall commercial income has gone up by 27.9 per cent to £114.5million over the full nine-month period.

The broadcast and matchday sectors show a 21.7 per cent and 34 per cent increase on the corresponding three months respectively.

Gross debt stands at £367.6million, which while still a vast sum, represents a decrease of 15.9 per cent since June 30 last year.

However, total operating expenses for the third quarter increased 18.6 per cent year-on-year to £79million.

Wages have also risen 25.1 per cent to £44.9million due to the impact of new signings - including Robin van Persie and Shinji Kagawa - renegotiated contracts and the growth of United's commercial team, which also has a base in Hong Kong.

Manchester United's executive vice-chairman Ed Woodward is not anticipating "a major retooling" of Sir Alex Ferguson's squad this summer.

Woodward was speaking on a conference call to outline United's third quarter results, and with Ferguson admitting he was already giving his squad rebuilding idea some thought, it has been anticipated further big name signings would be made.

However, after winning the Premier League title this term with four games to spare, Woodward is not sure that is strictly necessary.

"I wouldn't expect there to be a major retooling of the squad," said Woodward.

"There is incredible depth. We could put two first teams out with 11 internationals in each.

"It has been a phenomenal season. We are a long way ahead in the Premier League and whilst I wouldn't describe the way we got knocked out of the Champions League as luck things could have gone differently in that game.

"We have a young squad and each of those are a year older. We are very comfortable with make up of team and squad."

Nevertheless, Ferguson will continue to be linked with a series of star players, most recently Robert Lewandowski and Ramadel Falcao, whilst newly crowned FWA Player of the Year Gareth Bale is another United admire.


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