Manchester United Post Record Financial Results

Article excerpt

Once again, Manchester United (ManU) are in the news, not because of their 8-2 thrashing of Arsenal in their latest encounter, but because of their record financial results for the year ended 30 June 2011, which they announced on 1 September, 2011.

The financial highlights are as follows:

* Operating profit: [pounds sterling]110.9 million

* Revenue: [pounds sterling]334 million, up [pounds sterling]45 million on the previous year

* Pre-Tax profit: [pounds sterling]29.7 million, compared with a loss in the previous year of [pounds sterling]15 million

* Net Debt [pounds sterling]308.3 million, compared with [pounds sterling]376.9 million in 2010

Of course, ManU's debts have been a continuing source of annoyance and frustration to the fans, and, one of the reasons for the projected US$1 billion IPO on the Singapore Stock Exchange, expected to be launched later this year, is to reduce these debts.

Revenues, which include sponsorship deals, such as the [pounds sterling]80 million AON shirt sponsorship, were up from [pounds sterling]81. …