Record revenues for Manchester United

<p>Manchester United have announced record revenues for the last year.</p>

Manchester United have announced that the Premier League champions hit a new record for revenues for the 12 months to June.

The club made a net profit of £146 million after a large rise in the revenues generated by the commercial department.

Merchandising, sponsorship deals and product licensing were all cited by the club as among the reasons that helped it to a new record revenue.

Ed Woodward, Manchester United's executive vice chairman, stated that the club is "very proud" of the results. He added: "Our commercial business continues to be a very powerful engine of growth enabling the team to continue to be successful."

He pointed out that last year, United won the title for the 20th time and the club is now looking forward to more success under the new manager David Moyes.

The Scot replaced Sir Alex Ferguson in the role during the summer after the veteran retired.

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