Manchester United's revenue increased to £175million in the last six months of 2011, the Barclays Premier League club has announced.
United, who are second in the table behind neighbours and bitter rivals Manchester City, released their financial report for the fourth quarter of 2011.
The figures showed that the club's total revenue at the end of 2011 stood at £175million, an increase of £18.5million on the figure of £156.5million, which United declared at the end of 2010.
The club have experienced increases in matchday revenue - up from £52.4million to £54.5million, media revenue - up from £53.7million to £60.9million, and commercial revenue, which has risen to £58.6million from £50.4million.
The club, who were taken over by the Glazer family in 2005, have a debt of £439million as of the end of last year, down from £508 million the previous year.
The reason behind the decrease in the club's debt is because United have bought back some of the bonds that were sold as part of a £500million refinancing exercise at the start of 2010.
United also reported that total operating costs rose sharply from £96.9million to £110.8million.
Net player capital expenditure jumped from £11.7million £47.9million due to the summer signings of David de Gea, Ashley Young and Phil Jones and general capital expenditure rose by £10.4million, thanks partly due to the cost of refurbishment of the club's hospitality boxes at Old Trafford.
The figures show the Red Devils currently have a bank balance of £50.9million.
The club are expected to experience a decline in income over the next six months after dropping down to the Europa League from the Champions League.
By Keith Weir
LONDON (Reuters) - A rise in commercial and media revenue helped English Premier League champions Manchester United to report growth of almost 8 percent in first half earnings on Tuesday, underlining the cash-generating power of the American-owned club.
United, the most successful soccer club in the English game, said earnings before tax, interest, depreciation and amortisation (EBITDA) increased 7.7 percent to 64.2 million pounds in the six months to the end of December.
Though United's on-field supremacy is being challenged at home by crosstown rivals Manchester City, backed by cash from Abu Dhabi, and they suffered an early and costly exit from the Champions' League, Europe's premier club competition, their brand remains attractive.
Deals with kit supplier Nike, shirt sponsor Aon Corp and delivery company DHL, which sponsors the club's training kit, contributed to a 16 percent rise in commercial revenue to 58.6 million pounds.
Total revenue grew to 175 million pounds in the period, up 11.8 percent. Media revenues contributed 60.9 million pounds, up 13 percent, while matchday revenues at 55.5 million made up less than a third of the total.
United now employ almost 700 people, up almost 100 on a year ago. However, staff costs account for only 43.7 percent of revenue, a relatively sober figure in the spendthrift world of British soccer.
A recent report by Deloitte put United in third place for soccer revenues in 2010-11, behind Real Madrid and European champions Barcelona.
Images from HQworld.net
Loading
