Woodward cites financial strength despite reduced Man Utd revenues

Manchester United have announced reduced quarterly revenue in their latest financial results but insist they remain on track for record annual income.

Woodward cites financial strength despite reduced Man Utd revenues

Woodward cites financial strength despite reduced Man Utd revenues

United’s revenue of £135million for what is termed the first quarter of 2019 was down from £143.7million in the same period last year.

Commercial and matchday revenue were down along with operating profit, with broadcasting revenue – up £2million to £42.8million – the only area showing growth.

It is understood the difference can be attributed largely to the fixture schedule meaning United played two fewer games than in the same period 12 months ago.

Executive vice chairman Ed Woodward said: “Our financial strength enables us to continue to attract and retain top players and to invest in our academy, as we look to drive the success on the pitch that the club and our fans expect.

“We remain on track to deliver our record full-year revenue guidance, underpinning our long-term, strategic plan to create sustainable growth across all areas of the club.”

Meanwhile, a report claims United are reluctant to back Jose Mourinho in the January transfer market amid a claim by the Independent that he has lost faith with £110m worth of signings in recent weeks.

 

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