Record third quarter figures for Manchester United

MANCHESTER United has capped its 20th title win with record third quarter revenue of £91.7m, up 29.5%.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was up 22.5% to £25m.

The club is predicting full-year revenue of between £350m-£360m and EBITDA of £107m-£110m.

But it made a pre-tax loss of £3.1m during the period, down from a profit of £2.8m last year. A tax credit of £6.7m left it with net income of £3.6m, up from £1.1m a year ago.

In a statement to the New York Stock Exchange the club said it increased third quarter commercial revenue by 31.9% year-on-year to £36m.

Executive vice chairman Ed Woodward said: “Each of our three primary sectors – commercial, broadcasting and matchday – delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA.

“In addition, we are delighted to be continuing and deepening our relationship with Aon, as our new training kit, training centre and tour partner, for an additional eight years.”

During the quarter sponsorship revenue increased by 52% following deals with Japanese social gaming firm Gloops, Ekspres Bank in Denmark and BIDV financial services in Vietnam.

Broadcasting revenue was up 28.4% to £21.7m and matchday revenues rose 27.8% to £34m, mainly due to an additional three home cup games compared to the prior year. Staff costs were up 25% to £44.9m due to new player signings and wage increases.

Finance costs were also up, increasing from £14.8m to £18.3m year-on-year. Total borrowings were £367.6m at March 31, compared to £423.3m a year ago.