Profits up at Manchester United

<p>Manchester United has seen both its profits and revenues rise.</p>

Revenues and profits at Manchester United rose during the first three months of the year.

Performance of the Premier League football club has been much better off the pitch in the last few months, with the team finishing in seventh place in the final league table, a sharp fall after it won the championship just 12 months ago.

Profits for the January-March period at Manchester United were reported to be £11 million, which the company stated was up from £3.6 million a year ago. As well as this impressive improvement in profits, the club also revealed record revenues of £115.5 million for the period.

Club executive vice chairman Ed Woodward said: "We once again generated record revenues as all of our businesses delivered impressive year-over-year growth. This puts us in a healthy position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season."

Louis van Gaal is expected to be announced as the new Manchester United manager in the next few days, before he takes his national team Holland to the World Cup in Brazil. He will be replacing club legend Ryan Giggs in the dugout, with the former Wales international in turn replacing David Moyes, who was sacked a few weeks ago.

On-field struggles

It was a difficult season on the pitch for Manchester United, as Moyes struggled to adapt to taking over from Sir Alex Ferguson in the manager's office. United ended the season with just one trophy success – the Community Shield – and were knocked out of the Champions League at the quarter-final stage by Bayern Munich.

Following the announcement of the sharp rise in profits and record revenues in the first three months of the year, the share price of Manchester United fell slightly on the New York Stock Exchange yesterday. Stocks in the Premier League club were 0.18 per cent down at the end of yesterday's trading session in the US.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.