Simon English: Good result for Man Utd but stick to the football
Thursday 15 November 2012
Outlook The latest results from Manchester United were posted yesterday and in fairness they weren't all bad. Traders still seem of the view that the $14-a-stock New York share listing was toppy, to say the least, but there is no question the business is the possessor of a valuable franchise.
Profit of £20m in the three months to September is respectable for sure, but this number was rather flattered by a £26.5m tax credit.
For investors, the choice remains clear. Enjoy the football and avoid the shares.
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