Man Utd revenues to hit new record

MANCHESTER United will post record annual results today with revenues set to rise nearly 20% to £430m as a result of surging commercial revenues.

Profits are expected to come in around £25m when the numbers are revealed at lunchtime to the New York Stock Exchange, which will be below the 2013 figure, which was skewed by a one-of tax credit.
 
The annual results should also include details of pay-offs to former manager David Moyes and his coaching team, but the figures will not reflect any financial losses incurred from failing to qualify for Europe for this season – executive vice president Ed Woodward has already said there would be a fall in revenues of around £30m in the current financial year.
 
The headline figures were flagged up in a prospectus released in August for a new release of shares on the NYSE.

Commercial revenue is expected to be up 25 per cent to around £190million due to pre-season tours and higher sponsorship renewals.

Operating costs are due to be up 20 per cent to £373million mainly due to expenditure on transfer fees and higher player wages, though will not include the impact of all the club’s summer dealings include British record signing Angel di Maria, whose transfer for nearly £60m came after the year end.

The debt should be confirmed as £350m, with the cost of paying off the debt a similar level to the profits.
The prospectus said: ‘We currently estimate that our net finance costs will be approximately £26.5m to £28.5m.