Manchester United, the new Barclays Premier League champion, has announced a record profit of £91.7 million (about $142 million) for the first nine months of the fiscal year which will end on June 30, 2013. Adjusted EBITDA was up 22.5 percent to £25.5 million ($39 million). Sales revenues in the third quarter rose by 31.9 percent to £36 million (about $56 million).
Sponsorship revenues rose by 52.2 percent to £21 million (about $32.5 million), while from the sale of commercial products Manchester United has collected £9.2 million ($14.3 million). Revenues from new media and mobile increased to £5.8 million ($ 9 million). Broadcasting revenue, only 23.7 percent of sales, brought Manchester United £21.7 million ($33.8 million), while from the sale of tickets, United has collected £34 million ($53 million).
However, operating costs in the third quarter also increased by 18.6 percent over the same period last year, up to £79 million ($123 million). Labor costs in the first nine months of fiscal year rose 15.1 percent to £129.4 million (about $200.6 million). English club’s total debt decreased from £423.3 million ($659 million) on March 31, 2012 to £367.6 million ($572.2 million) on March 31, 2013.
Manchester United (NYSE:MANU), controlled by the billionaire Malcolm Glazer, is the first publicly traded soccer club in the world. After it went public in August 2012, club’s shares fell in the first three months, but is now up by 30 percent since the IPO. The shares are 2.9 percent down today at noon (EST) to $18.50 with a market capitalization of $3.04 billion.
The most valuable English club signed last year a seven-year sponsorship deal worth $559 million with Chevrolet. They also signed a $30 million a season deal with British insurer Aon for the sponsorship of the new training facilities. The club has signed other deals with Nike and sponsors from Denmark, Japan and Vietnam.
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