Manchester United has today announced its financial results for the third quarter and nine months ending 31 March 2018.
The club’s financial performance follows a strong finish to the Premier League season which saw Jose Mourinho’s side finish second behind their City rivals and progress to a record-equalling 20th Emirates FA Cup final on Saturday against Chelsea at Wembley.
Revenue for the quarter was £137.5m – up 8% from third quarter 2017, with four sponsorship deals announced during the period – PingAn (Financial Services), Science in Sport (Regional), the renewal of Cho-A-Pharm (Regional) and the extension of its global partnership with Mlily.
The quarter also saw them become the fastest growing sports club channel to launch on YouTube as they expand their digital presence.
Commercial revenue for the quarter was £66.7 million, an increase of £0.2 million, or 0.3%, over the prior year quarter, whilst sponsorship revenue fell £0.1million to £41.7 million.
Retail, Merchandising, Apparel & Product Licensing revenue for the quarter increased £0.3 million to £25.0 million, and broadcasting revenue was £39.7 million, an increase of £8.3 million, primarily due to playing one additional Premier League home game and two additional PL games being broadcast live.
Matchday revenue remained strong at £31.1 million, an increase of £1.8 million, due to playing an additional PL home game but partially offset by playing fewer domestic cup games.
Total operating expenses for the quarter were £136.4 million, an increase of £6.6 million, or 5.1%.
Ed Woodward, Executive Vice Chairman, commented: “As another season nears its close, we have achieved our highest number of points and finish since 2012/13 and we look forward to another trip to Wembley. We anticipate another successful summer tour in the United States in preparation for the 2018/19 season.”
For the fiscal year 2018, Manchester United expects revenue to be £575m to £585m with adjusted EBITDA at £175m to £185m. However, the club’s net debt as of 31 March 2018 was £301.3 million, a decrease of £65.0 million over the year. The gross USD debt principal remains unchanged.
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