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Manchester United predicts 2018 profit fall

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Manchester United has forecast a dip in profits in its current financial year, despite the return of lucrative Champions League football to Old Trafford.

The Premier League club – controlled by the American Glazer family and managed by Jose Mourinho – reported profits just shy of £200m in the 12 months to 30 June 2017.

The record figure came on the back of an all-time high revenue performance – the club raking in £581m.
It was aided by proceeds from a new Premier League TV rights deal and the lifting of the Europa League trophy, as broadcast revenue soared by 38% to £194m.
United said it made a £10.9m profit from transfers in the period compared to a loss of almost £10m in the previous 12 months.

Image: Jose Mourinho won the Europa League in his first season as United manager
Net debt – a source of frustration for many fans since the Glazers took ownership over a decade ago – fell 18.3% to £213.1m.

The club, whose top players include Paul Pogba and Romelu Lukaku – the latter signed from Everton in the last summer break for an initial £75m – are currently joint top of the Premier League with local rivals Manchester City.
It forecast revenue in line with that of the last financial year but said it expected profits to come in between the range of £175m and £185m.
The lower figure was partly blamed on the prospect of bonus payments to players because of Champions League qualification.
United’s executive vice chairman, Ed Woodward, said: “We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football,” adding: “We are pleased with the investment in our squad and look forward to an exciting season.”
The club’s New York-listed shares – up by a quarter in the year to date – were almost 3% higher when trading opened on Thursday.

Source: SKY