Manchester United Reports £13m First-Quarter Operating Profit Amid Revenue Dip
Manchester United saw its first-quarter operating profit rise to £13 million, a significant turnaround from a £7 million loss in the same period last year. However, revenue dipped to £140.3 million from £143.1 million.
Since February 2024, approximately 450 redundancies have been made, reducing the headcount to around 800. Budget cuts under Sir Jim Ratcliffe's leadership included ending Sir Alex Ferguson's ambassadorial role, saving about £2 million per year, and cutting free lunches.
The club's revolving credit facility increased by £35.7 million, reaching £268 million, while non-current borrowings remained unchanged at £650 million. Cash and cash equivalents fell to £80.5 million from £149.6 million.
Sponsorship revenue totaled £47 million, down 9.3% due to the loss of a training kit partner following Tezos's departure. Talks are ongoing with prospective partners.
Omar Berrada stated that the results reflect the club's resilience and ongoing transformation. The focus remains on establishing a lower cost base and improving sporting and commercial performance. Currently, the men's team sits sixth in the Premier League and the women's team is third in the Women's Super League.
