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-24943476

The article has changed 4 times. There is an RSS feed of changes available.

Version 1 Version 2
Man Utd reports record revenues for first quarter Man Utd reports record revenues for first quarter
(about 1 hour later)
Manchester United has reported record revenue of £98.5m for the first three months of its financial year.Manchester United has reported record revenue of £98.5m for the first three months of its financial year.
The 29% revenue rise came after a 63% jump in sponsorship income and an increase in earnings from TV deals.The 29% revenue rise came after a 63% jump in sponsorship income and an increase in earnings from TV deals.
There were 12 new sponsorship deals signed, including with Russian airline Aeroflot. There were 12 new sponsorship deals signed, including one with Russian airline Aeroflot.
The club predicts revenues for the whole year between £420-430m, bringing it closer to Europe's wealthiest clubs, Real Madrid and Barcelona. The club predicts revenues for the whole year of £420-430m, bringing it closer to Europe's wealthiest clubs, Real Madrid and Barcelona.
It is controlled by the US-based Glazer family. Staff costs for the quarter rose by 31% to £52.9m
Staff costs for the quarter rose by 31% to £52.9m, with the rise partly because some players' wages were paid only for part of last year, but now have been fully included in the three-month period. TV boost
The increase also reflects wage rises and bonuses paid because of the growth of the club's commercial business. Manchester United - which is controlled by the US-based Glazer family - also welcomed the latest broadcast deal under which BT Sport paid nearly £900m for a three-year deal to broadcast live Champions League and Europa League matches.
It also received a one-off receipt of £1.3m in respect of its players who were on international duty at the Euro 2012 tournament. United's executive vice-chairman Ed Woodward said in a statement: "This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenue for the participating clubs."
Aeroflot The club said 12 new sponsorship deals were activated in the quarter with a range of companies, including Russian airline Aeroflot and the soft drinks company PepsiCo.
Manchester United executive vice-chairman Ed Woodward said in a statement: "This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenue for the participating clubs." Licensing of clothing and other products brought in £10.7m, a rise of 13.8% on last year, and broadcasting revenue rose 41% to £19.3m,
United said 12 new sponsorship deals were activated in the quarter, with a range of companies, including Russian airline Aeroflot and the soft drinks company PepsiCo. Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said commented "Manchester United's stuttering start to the domestic season is in stark contrast to its performance off the field.
Licensing of clothing and other products brought in £10.7m, a rise of 13.8% on last year. "There are some causes for concern, such as the steep percentage rises in operating expenses generally, and staff costs in particular."
Among other highlights of the results were a rise in broadcasting revenue of 41% to £19.3m, and a 63% rise in sponsorship revenue, thanks largely to what the club's statement called "a significant increase" from the pre-season tour, higher renewals and the activation of new global and regional sponsorships. However, he said that while the share price would inevitably be affected by the on-field performance, "there is no sign of the Manchester United marketing machine beating a retreat".
The club also welcomed the latest broadcast rights agreement, under which BT will pay £900m to broadcast European club football for three years.