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-29140959

The article has changed 7 times. There is an RSS feed of changes available.

Version 0 Version 1
Manchester United profits plunge 84% Manchester United profits plunge 84%
(35 minutes later)
Manchester United has reported a sharp fall in annual profits despite record revenues for the year.Manchester United has reported a sharp fall in annual profits despite record revenues for the year.
The football club said net income plunged 84% for the year to 30 June to £23.8m, from £146m a year ago.The football club said net income plunged 84% for the year to 30 June to £23.8m, from £146m a year ago.
It comes a month after Manchester United announced a £750m 10-year shirt manufacturer sponsorship deal with Adidas.
The club said revenue increased 19% to £433.2m, compared with £363.2m a year earlier.
But Manchester United said it expected revenue in 2015 to fall to between £385m and £395m suggesting its failure to qualify for the Champions League for the first time in 20 years may be to blame.
Manchester United said underlying profits were £130.1m for the year to 30 June, compared with £108.6m a year earlier.
It said it expected annual profits would fall next year to between £90m and £95m.
Ed Woodward, executive vice chairman of Manchester United, said: "With Louis van Gaal at the helm as manager, and the recent signing of some of the world's leading players to further strengthen our squad, we are very excited about the future and believe it's the start of a new chapter in the club's history.
"Louis' footballing philosophy fits very well with Manchester United and he has an impressive track record of success throughout his career, winning league titles with every club he has managed."
The results also showed former Manchester United manager David Moyes and his back room staff received a total of £5.2m in compensation following his sacking in April after less than a year in the job.