Record profits of £110m reduce United's takeover debt
Friday 02 September 2011
Manchester United followed their record-breaking season that brought a 19th league title on the field with an impressive set of results off it. Yesterday the club posted record operating profits of £110.9m for the past financial year.
United have also recorded a record revenue of £331.4m – an increase of £45m from last year and passing £300m for the first time – according to figures for the year ended 30 June 2011. Arsenal's £313m, also from this year, was the previous highest revenue by an English club.
United, who also reached the Champions League final during the period, revealed a commercial turnover of £103.4m, a rise of 27 per cent on the previous year. The latest results come as the club consider a plan to raise up to £614m by floating on the Singapore Stock Exchange. United's gross debt now stands at £458.9m. It has cost the club £51.2m to service that – or nearly half that record operating profit. The net debt of £308.3m is the lowest since the Glazers completed their controversial takeover of the club in 2005.
The figures do not include United's recent activity in the transfer market that saw David de Gea, Ashley Young and Phil Jones arrive at Old Trafford.
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