Manchester United Post Loss Despite Commercial Revenue Rise
Thu 14th May 2015 | Money & Finance
Manchester United today announced an 11.7% rise in commercial revenues in its financial results for the 2015 fiscal third quarter and nine months ended 31 March 2015.
However, a lack of Champions League football this season led to a fall in Broadcasting and Matchday revenue posting a loss of £2.9m between January and March compared to the £11m profit in the same period last year.
Commercial revenues rose to £47.8m for the quarter with three sponsorship deals announced during the period – Kama Games, Swissquote and Emtel.
The results also revealed United’s debt had increased 12.4% in the quarter to £395.4m, but remained optimistic raising their EBITDA guidance to £103 - £110 million from £90 - £95 million.
Ed Woodward, Executive Vice Chairman commented, “Our commercial revenues were up year over year and we are raising EBITDA guidance for fiscal year 2015 from £90-£95 million to £103-£110 million.
“As the season approaches its conclusion, we are pleased with the team’s performance in Louis van Gaal’s first season as manager and are well positioned to achieve a top four finish in the Premier League and to return to European football next year.
“As we look forward to next season, on the playing side we expect to be challenging for trophies in all competitions and on the commercial side we are excited by the numerous opportunities for further growth, including the first year of our ten year partnership with adidas.”
Image: Action Images
Posted by: Aaron Gourley
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