Man Utd Record Handsome Revenue to Kick Off 2017/18 But Overall Net Debt is Up Despite 12 Month Fall
Manchester United have recorded an increased total revenue of £141m for the first quarter of the 2017/18 season, up 17.3% on the same period last year.
That has yielded an operating profit of £15.2m, up 145% on the same period last year, and a profit for the period (net income) of £7.9m, up 558.3% on the same period last year.
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Overall, the club still anticipates to record an overall total revenue of £575m to £585m over the course of the 2017/18 campaign, standing by an earlier projection made after last season.
"We are just over a quarter of the way through what promises to be another exciting season," executive vice-chairman Ed Woodward said in the financial report.
"In the Champions League we have won all four games played to-date; we are through to the Quarter Final of the Carabao Cup; and are looking forward to the next few months as the number of matches ramps up."
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Net debt now stands at £268.1m, a significant 20.6% fall over the course of the last 12 months from £337.7m this time last year for the three months that ended on 30th September 2016.
However, it appears to have actually risen overall in the last three month period after being recorded as £213.1m at the end of June 2017 - the last financial quarter of the 2016/17 season.
United's net debt has been the source of much controversy since the Glazer family takeover and has risen and fallen with regularity between financial quarters.
For example, at the end of three months to December 2016, net debt was as high as £409.3m. It fell to £366.3m for three months ending on 31st March 2017, before then plummeting by June.
Manchester United Net Debt by Financial Quarter Since Start of 2015/16 Season:
Season | Period | Net Debt |
2017/18 | Q1 - 3 months ending 30th September 2017 | £268.1m |
2016/17 | Q4 - 3 months ending 30th June 2017 | £213.1m |
2016/17 | Q3 - 3 months ending 31st March 2017 | £366.3m |
2016/17 | Q2 - 3 months ending 31st December 2016 | £409.3m |
2016/17 | Q1 - 3 months ending 30th September 2016 | £337.7m |
2015/16 | Q4 - 3 months ending 30th June 2016 | £260.9m |
2015/16 | Q3 - 3 months ending 31st March 2016 | £348.7m |
2015/16 | Q2 - 3 months ending 31st December 2015 | £322.1m |
2015/16 | Q1 - 3 months ending 30th September 2015 | £286.2m |
