Man Utd post GBP4.1m operating loss for Q1


SportMarketing

Despite a massive jump in its broadcast revenue, Manchester United Plc posted an operating loss of GBP4.1 million loss for the first quarter of the year 2017.


Adjusted EBITDA for the first quarter fell to be GBP185 million compared to GBP195 million reported in the year before.


Broadcasting revenue was its major positive item which rose to GBP31.4 million compared to GBP27.8 million posted a year before.


On a year on year basis, the item rose to 12.9%.


Commenting on the report, Ed Woodward, Executive Vice Chairman, commented, “As we near the end of the season, I am delighted we have picked up two trophies so far, and look forward to competing for a third in the Europa League final, the only trophy we have never won.


He added that the company is “forecasting better full year financial performance than expected and as such have raised our revenue and profit guidance for the year. We look forward to a strong finish to 2016-17, both on and off the pitch.”


The English football club has also seen a spike in its debt profile. On a year on year basis, this item has grown by 5% to GBP366.3 million compared to GBP348.7 million as at the same quarter last year.


The company attributed the debt spike to the “strengthening US dollar, with the USD/GBP exchange rate moving from 1.4332 at 31 March 2016 to 1.2520 at 31 March 2017”.


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Manchester United is one of the most popular and successful sports team in the world, playing one of the most popular spectator sports on Earth.


Through our 139-year heritage we have won 65 trophies, enabling us to develop the world’s leading sports brand and a global community of 659 million followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, mobile & content, broadcasting and matchday.
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