Manchester United forecasts record profit next year

Manchester United has said it expects annual profit to jump by 46 per cent thanks to a return to Champions League soccer and a record kit deal after reporting an expected fall in 2014-15 earnings. The club said yesterday it expected 2015-16 adjusted core earnings to be a record £165-£175 million on revenue of £500-£510 million.

“Our record revenue and [core earnings] guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth,” United executive vice-chairman Ed Woodward said in a statement.

A return to Champions League soccer, more Premier League TV money and global and regional sponsorships, including a shirt deal with General Motors and a world record 10-year £750 million kit deal with Adidas, will add to the club’s prospects. – (Reuters)