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Man Utd posts record revenues

02 May 2013, 16:34

London - Fresh from winning a record-extending 20th English title, Manchester United showed it's successful off the pitch as well by posting record revenues while reducing its debts.

United said on Thursday it is on course to generate more than 350 million pounds ($545 million) this season after earning a record 91.7 million pounds ($143 million) in the three months to March 31.

But the title triumph has come at a price, with the wage bill rising 25 percent year-on-year to 44.9 million pounds ($70 million) in the third quarter.

But the club, which is owned by the American Glazer family, has reduced its debt to 367.6 million pounds ($572 million) - a drop of 16 percent in nine months.

Net profit more than trebled year-on-year to 3.6 million pounds ($5.6 million) in the third quarter.

- AP


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