This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-39933026
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Manchester United reports £3.8m loss but revenue rises | Manchester United reports £3.8m loss but revenue rises |
| (about 1 hour later) | |
| Manchester United has reported a loss for the first three months of the year as operating expenses soared. | Manchester United has reported a loss for the first three months of the year as operating expenses soared. |
| It lost £3.8m between January and March, down from a £13.7m profit in the same period last year. | It lost £3.8m between January and March, down from a £13.7m profit in the same period last year. |
| The Old Trafford club incurred higher player contract expenses, and was also hit by adverse foreign exchange movements. | The Old Trafford club incurred higher player contract expenses, and was also hit by adverse foreign exchange movements. |
| But total revenues were 3% higher at £127.2m and the club now expects record full year revenues of £560m to £570m. | But total revenues were 3% higher at £127.2m and the club now expects record full year revenues of £560m to £570m. |
| If the club beats Ajax in the Europa League final on 24 May it would secure a coveted place in the Champions League for next season. | If the club beats Ajax in the Europa League final on 24 May it would secure a coveted place in the Champions League for next season. |
| Manchester United has a clause in its kitwear deal with Adidas that allows for a cut of 30% in the annual sponsorship deal if the club fails to reach the Champions League in consecutive seasons. | Manchester United has a clause in its kitwear deal with Adidas that allows for a cut of 30% in the annual sponsorship deal if the club fails to reach the Champions League in consecutive seasons. |
| After failing to qualify for the tournament in 2016-17 season, it means the Europa League final in Stockholm next week now takes on added importance. | After failing to qualify for the tournament in 2016-17 season, it means the Europa League final in Stockholm next week now takes on added importance. |
| Analysis: Simon Stone, BBC football correspondent | Analysis: Simon Stone, BBC football correspondent |
| Manchester United are in line to post record profits despite being in this season's Europa League. | Manchester United are in line to post record profits despite being in this season's Europa League. |
| Under normal circumstances, United could have expected to generate between £15m and £20m from a decent Europa League run. | Under normal circumstances, United could have expected to generate between £15m and £20m from a decent Europa League run. |
| This season United are expecting to earn about £7m more due to a combination of entering the tournament as England's highest-ranked team due to their FA Cup success last term; reaching next week's final against Ajax; and the underperformance of the other English teams. West Ham, Southampton and Tottenham. | This season United are expecting to earn about £7m more due to a combination of entering the tournament as England's highest-ranked team due to their FA Cup success last term; reaching next week's final against Ajax; and the underperformance of the other English teams. West Ham, Southampton and Tottenham. |
| It has allowed them to project increased revenues of between £560m and £570m and profits of between £185m and £195m. United's record profit is £191.9m. | It has allowed them to project increased revenues of between £560m and £570m and profits of between £185m and £195m. United's record profit is £191.9m. |
| 'Strong finish' | 'Strong finish' |
| Executive vice-chairman Ed Woodward said: "We are forecasting better full-year financial performance than expected and as such have raised our revenue and profit guidance for the year. | Executive vice-chairman Ed Woodward said: "We are forecasting better full-year financial performance than expected and as such have raised our revenue and profit guidance for the year. |
| "We look forward to a strong finish to 2016-17, both on and off the pitch." | "We look forward to a strong finish to 2016-17, both on and off the pitch." |
| Broadcast revenues were up 12.9% at £31.4m. Commercial revenues were slightly higher, while matchday income edged lower. | Broadcast revenues were up 12.9% at £31.4m. Commercial revenues were slightly higher, while matchday income edged lower. |
| Two global sponsorship deals were signed during the quarter, with ride-hailing service Uber and Singapore firm Aladdin Street. | Two global sponsorship deals were signed during the quarter, with ride-hailing service Uber and Singapore firm Aladdin Street. |
| The Old Trafford club also lifted the EFL Cup during the period. | The Old Trafford club also lifted the EFL Cup during the period. |
| United increased its forecast for profits to between £185m and £195m for 2016-17. | United increased its forecast for profits to between £185m and £195m for 2016-17. |
| Meanwhile, net debt at the end of March stood at £366.3m, an increase of £17.6m over the year. | |
| The club's forthcoming summer tour features one game in Norway, and five games in the US. | The club's forthcoming summer tour features one game in Norway, and five games in the US. |