Manchester United reports a £13 million operating profit, citing cost-cutting and transformation efforts despite a slight revenue dip.
LONDON: Manchester United chief executive Omar Berrada said the latest financial results show strong progress in the club’s transformation.
The Red Devils reported a £13 million operating profit for the quarter ending September 30, reversing a £6.9 million loss from the same period last year.
Total revenue for the fiscal first quarter dipped 2% to £140.3 million, attributed to the men’s team’s absence from European competition.
The men’s side sits sixth in the Premier League under manager Ruben Amorim.
The women’s team, coached by Marc Skinner, is third in the Women’s Super League and competing in the Women’s Champions League.
“These robust financial results reflect the resilience of Manchester United,” Berrada said.
He stated that difficult decisions had led to a sustainably lower cost base and a more streamlined organisation.
The financial statement noted the continued impact of operating cost and headcount reduction programmes implemented last year.
Co-owner Jim Ratcliffe oversaw wide-ranging cost-cutting measures, including widespread job cuts.
Employee benefit expenses for the quarter were £73.6 million, a decrease of £6.6 million primarily due to those reductions.
The club says it remains on track for full-year revenues between £640 million and £660 million for fiscal 2026. – AFP
