Reds make record profits
United have announced record turnover and profits for the year ended 30 June 2007, underpinned by the Reds Premier League title success last season.
The financial results confirm United's leading position in world sport based on the team's on-field success, Old Trafford's expansion and increased sponsorship revenue.
The key factors in United's increased financial results are as follows:
- Group turnover increased 27% to £210m (2006 - £165m)
- Gross turnover (including sales from Nike merchandise and MUTV not consolidated in these results) rose 21% to £245m (2006 - £202m)
- EBITDA rose 72% to £79.8m (2006 - £46.3m)
- Profit before tax jumped 93% to £59.6m (2006 - £30.8m)
- Matchday revenue up 30% to £92.6m, (2006 - £71.3m) reflecting successful expansion of Old Trafford, increasing capacity to over 76,000
- Media revenue up 35% to £61.5m (2006 - £45.5m) due to semi-final appearance in the UEFA Champions League, finalists in the FA Cup and winning the Barclays Premier League
- Commercial revenues up 15% to £56.0m (2006 - £48.6m) due to the first year of the world record AIG shirt and accompanying financial services sponsorship deals, increase in the Nike contract and new platinum sponsors, Kumho Tires, Betfred and Hestiun
- Wages to turnover ratio fell to 43.6% (2006 - 51.6%) comfortably within the Club's historic aim to keep the figure around 50%
- The Club continues to be the only one in the Premier League to disclose the total payments in the year to players' agents - a practice it believes to be something all clubs should adopt. In 2006/07, that figure was £2.1m (2006 - £1.8m).