Manchester United on course to hit financial targets

Out of the Champions League but revenue at club for Q1 up 8.1% to £137.5m

 Manchester United’s Romelu Lukaku Photograph: Reuters/File photo

Manchester United’s Romelu Lukaku Photograph: Reuters/File photo

 

A surprise exit from the Champions League after defeat by Spain’s Sevilla failed to dent English soccer club Manchester United’s finances in the latest quarter as it stuck to its targets for the current year.

United, whose leading players include David de Gea, Paul Pogba and Romelu Lukaku, finished second in the 20-team English Premier League on Sunday behind local rivals Manchester City.

“As another season nears its close, we have achieved our highest number of points and finish since 2012/13 and we look forward to another trip to Wembley,” its executive vice chairman Ed Woodward said.

United face Chelsea in the FA Cup final at Wembley on Saturday.

The club’s adjusted earnings before interest, tax and depreciation and amortisation for the three months to March 31st rose to £36.1 million (€41 million) from £30 million a year ago.

Revenue for the period rose 8.1 per cent to £137.5 million.

United said it continued to target between £575-£585 million of revenue and an adjusted core earnings of between £175-£185 million for the year to the end of June.

Manchester United plc is listed on the New York Stock Exchange and controlled by the American Glazer family. – Reuters