herald

Saturday 18 August 2018

Reds turn a profit

Manchester United are expected to announce record revenues on Wednesday of around £420million for last season with a £25million profit helped by sales of two million replica shirts worldwide.

The annual results should also include details of pay-offs to former manager David Moyes and his coaching team, but the figures will not reflect any financial losses incurred from failing to qualify for Europe for this season. The key results have already been flagged up in a prospectus released in August for a new release of shares on the New York Stock Exchange. The prospectus states that total revenue is expected to be approximately £429million to £434million, an increase of 18 to 19 per cent. By comparison Real Madrid's turnover was £480million but that includes player sales.

Profit for the year is expected to be £23million to £25million - significantly down from the £146.4million for 2012-13 but that was mainly due to a one-off tax credit. Approximately five million Manchester United-branded licensed products were sold last year including two million replica shirts.

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