Figures include total turnover of £73.8m (increase of 16.6 per cent on previous year) and EBITDA* of £19.3m (increase of 29.5 per cent on previous year).
There are a lot of different opinions on the internet in relation to the released figures. Some seem to feel we are on the right track so to speak. At the same time it's obvious that things can only get better when you consider where we are coming from. By which I mean the £600 million debt the club was recently saddled with. Andersred from the caf is unforgiving in his appraisal on his blog and examines the figures in great detail.
MarcRed of the official Man United forum summarizes thus: "
Revenue up by £10.5m to £73.8m. Staff costs up by £4.1m to £37.8m. This is down to all the new contracts and new buys in the summer plus an overall staff increase throughout the club.
Other operating costs up by a couple of million but profit before tax and interest up to £13m from £4.9m. Overall profit/loss however has gone from £2.7m profit to a £6.9m loss. This was due to the way the bond works, we gain/lose money based on the dollar/pound exchange rate, there was a gain last year and a loss this year. It's irrelevent to the company though because it doesn't get paid either way until the bond ends.
Summer spend totalled £47.1m ((De Gea, Jones, Young plus other payments for older buys)minus(O'Shea, Brown, Obertan and other receipts from older sales)). Cash balance is now £65m after summer transfers and the purchase of the bonds, plus some land aruond Old Trafford that the club also bought."
I'm no finance student nor an economist so I shall hve to draw my conclusions from opinions and reviews such as these. This is what the internet does best though I feel, lots of very different opinions from a great many perspectives.
Here is an article on the Man United financial report from Reuters news agency.
* Q1 EBITDA up 30 percent to 19.3 mln stg
* Gross debt falls to 433.2 mln stg from 516 mln
LONDON, Nov 15 (Reuters) - English Premier League soccer champions Manchester United on Tuesday reported an increase in first quarter earnings and said it had reduced its debt, benefiting from a sharp rise in commercial revenue.
The club, which in September put on hold a planned $1 billion flotation in Singapore due to market volatility, said earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 30 percent to 19.3 million pounds ($30.1 million) in its first quarter to end September.
Manchester United, which currently sits in second place in the Premier League, said its gross debt had fallen to 433.2 million pounds from 516.7 million.
The club, which is the most successful in English football, received permission in September for an IPO, through which it was looking to sell up to 30 percent of the club.
It had planned to use some of the proceeds to bring down its debt, a burden which had made the Glazer family, the club's U.S. owners, deeply unpopular with supporters.
The club said it had seen continued momentum in its commercial business and a recovery in seasonal and matchday hospitality businesses.
Total revenue rose by 17 percent to 73.8 million pounds, including a 22 percent increase in commercial revenues to 29.6 million pounds as the club reaped the benefits of a new 80 million pounds shirt sponsorship deal with Aon Corp.
Media revenues, including television rights, rose by 17 percent to 22.6 million pounds. Matchday revenues were up 10 percent to 21.6 million pounds.
Clubs across Europe are trying to increase their revenue streams in order to meet tough new financial criteria set by the game's governing body, UEFA.
I am now very happy to say I have booked myself and 3 pals onto a coach for the trip down to Swansea, it's gonna be another early start with a stop along the way. I have my ticket too, it cost me over double the face value unfortunately. I heard a rumour that the Manchester United seat allocation has been cut to 1700 just like the Liverpool game at Anfield so maybe this is why it cost me so much. It should be an awesome day out though and I will do my best to get some decent content for you guys.