Manchester United announces £157.9m record quarterly revenues

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Manchester United says it remains on track for record revenues for the current financial year, after making record quarterly revenues.

The Premier League’s new TV deal meant broadcast revenues were up 40.8% in the last three months of 2016, while match day income rose 27%.

Total revenues were £157.9m, up 18% from £133.8m a year ago. The club now expects revenues of £540m this year.

The Red Devils currently lie sixth in the Premier League.

Sponsor deals

“The robustness of our business model continues to be reflected in our strong quarterly financial results and we remain on track to deliver record revenues for the year,” said Ed Woodward, executive vice chairman.

While broadcast and match day revenues were strongly ahead, commercial revenue was largely unchanged at £66.8m. They had enjoyed a strong boost this time last year with the commencement of the Adidas kit deal.

The club also said that in the quarter three major sponsorship deals were signed, new partnerships with Deezer and Mlily, and the renewal of one with Concha Y Toro.

Operating profit for Q2 was up 15% at £37.6m, and net operating profit was up 23% at £69m.