Even though it was a disappointing and turbulent year for Manchester United on the pitch, the club continued to be a winner off it as third quarter revenues increased by 26-per-cent from £91.7m to £115.5m.
Revenues so far this year, in the nine months to March 31 are up 21.1 per-cent compared to 2013 at £336.9m and adjusted EBITDA up a more impressive 23.7 per-cent at £113.2m.
The biggest driver of the quarterly revenue growth was broadcast income, which was up more than 60 per-cent thanks to the start of the latest Premier League deal with Sky and BT.
Gross debt was down 4.3 per-cent at £351.7m, the club has revealed.
Executive vice chairman Ed Woodward said the focus was on returning the club to on-the-field success. Having won the Premier League in 2013 – finishing 11 points ahead of second-place Manchester City – United finished the campaign last weekend in seventh place and will miss at least £30m next season having failed to qualify for UEFA’s Champion’s League competition.
Having axed manager David Moyes in April after just 10 months in the job, United are expected to appoint experienced Dutch coach Louis van Gaal next week.
Mr Woodward said: “We once again generated record revenues and EBITDA as all of our businesses delivered impressive year over year growth.
“This puts us in a healthy financial position to continue to invest in the squad. Everyone at the Club is working hard to ensure the team is back challenging for the title and trophies next season.”