Record first quarter for United
Adjusted ebitda rocketed 104.9% to £41.6m as the Old Trafford coffers were boosted by new sponsorship deals including the start of the long-term partnership with German sportwear giant adidas, and the return to the UEFA Champions League competition.
Revenues rose 29.3% in the three months to September 30.
Executive vice president Ed Woodward said: “Our record first quarter revenues and ebitda demonstrate the continued strength of our businesses.
“We are delighted with the early progress made in licensing. During the quarter we entered into an agreement with HCL to be our digital transformation partner, which will enable us to connect with our fans around the world in innovative ways and further strengthen and grow our commercial revenues.”
For the full year, the club said it expects revenue to be £500m to £510m and adjusted earnings £165m to £175m.
Commercial revenue for the first quarter was £71.2m an increase of £14.4m, or 25.4%, over the prior year quarter.
Broadcasting revenue surged 64.3% to £27.6m, an increase of £10.8m over the prior year quarter, primarily due to participation in the UEFA Champions League, one additional Premier League home game, and one additional live broadcast game in the current quarter. Matchday income also rose sharply, by 64% to £24.8m for similar reasons.
