Manchester United announce increased revenues in latest financial figures

Commercial, broadcasting and matchday revenues all increase from the same period last year, thanks in part to the club's return to the Champions League

Manchester United have announced increased revenues in their latest financial results (Getty)

Manchester United announced record first quarter revenues of £141m on Thursday, up 17 per cent from the same period last year.

The latest set of financial results, relating to the three-month period between July and September 2017, take into account the club’s pre-season tour of the United States and the summer signings of Romelu Lukaku, Nemanja Matic and Victor Lindelof.

In a statement, the club’s executive vice-chairman Ed Woodward said: “We are just over a quarter of the way through what promises to be another exciting season.

“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.”

United's commercial revenue for the quarter rose by £6.2m to £80.5m, with the increase attributed to a greater number of pre-season friendly matches during the club's summer visit to the United States.

A return to the Champions League under manager Jose Mourinho helped broadcasting (£38.1m) and matchday revenues (£22.4m) rise by around a third.

Qualification for European football’s elite club competition also saw salary increases for members of the playing staff, with the expense of employee benefits rising to £69.9 million, an increase of 12.2 per cent

The other headline figure saw the club’s net debt, a point of contention ever since the Glazers’ controversial takeover in 2005, listed as £268.1m, a 20.6 per cent decrease over the course of the year.

United's gross debt remains unchanged but an increase in cash reserves to £216m, up from £164m last year, helped the net figure to fall.

Net income for the period was listed at £7.9m and for the forthcoming fiscal year, United expect total revenues to hit between £575m and £585m.

In January, United returned to the top of the Deloitte Football Money League for the first time in 11 years after recording the highest annual revenues for a football club in history.

The club’s revenue of £515.3m for the 2015/16 season saw them unseat La Liga rivals Real Madrid and Barcelona. In September, for the year ending 30 June 2017, United reported increased total revenues of £581.2m.