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Manchester United Revenue Falls In First Quarter

Manchester United have revealed reduced revenue and profit for the first quarter of 2019.

The club generated £135m in revenue for the period up until 30 September, which is 6.1 per cent down on the same time last year.

The club say the fall can largely be attributed to reduced sponsorship revenue, as a result of a smaller summer tour, and reduced match-day revenue, as a result of playing fewer home games.

Manchester United Revenue Falls In First Quarter
Ed Woodward insists Manchester United are still on track to generate record revenue over the whole year

As a result, United’s operating profit for the quarter is £13.9m, 22.3 per cent lower than in the same period last year.

However, there is good news for United in that their net debt has fallen by 7.8 per cent, although it does still stand at £247.2m.

United's reduced revenue can partly be explained by playing fewer home matches during the quarter than at the same time last year
United’s reduced revenue can partly be explained by playing fewer home matches during the quarter than at the same time last year

Despite the falling revenue and profit, United still predict record revenues of between £615m and £630m across the whole year.

United’s executive vice-chairman Ed Woodward was positive about the figures, and said the club’s “financial strength” will allow the club to invest in the first team and the academy.

Woodward says United’s ‘financial strength’ will allow the club to sign ‘top players’ for Jose Mourinho’s first-team squad

He said: “Our financial strength enables us to continue to attract and retain top players and to invest in our academy, as we look to drive the success on the pitch that the club and our fans expect.

“We remain on track to deliver our record full-year revenue guidance, underpinning our long-term, strategic plan to create sustainable growth across all areas of the club.”

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