Manchester United Receive Increase in Turnover from Quarterly Report

Manchester United today revealed their financial report for the first quarter of fiscal year ending June 2012 with a 16.6 per cent increase in total turnover.

The report measured the finances of the three months ending on September 30 2011.

Gross outstanding debt has also decreased from £516.7m ($819.3m) as of September 30, find 2010, buy cialis to £433.2m ($687m) on September 30, healing 2011.

Total turnover for the Red Football Group (holding company of Manchester United) during the three month period was up £10.5m ($16.6m) year-on-year from £63.3m ($100.5m) to £73.8m ($117m).

The figure included matchday revenue up 16.6 per cent from £19.7m ($31.2m) to £21.6m ($34.2m); media revenues up 16.5 per cent from £19.4m ($30.7m) to £22.6m ($35.8m) and commercial revenues up 22.3 per cent from £24.2m ($38.3m) to £29.6m ($49.6m).

However, total operating costs also increased year-on-year from £48.4m ($76.7m) to £54.5m ($86.4m).

The group said its commercial performance represented a “strong statement” of its financial position, with net assets of £804.8m ($1.27bn) and a cash balance of £65m ($103m).

The total spend on players during the period was up year-on-year from £8.2m ($13m) to £47.1m ($74.6m), with general capital expenditure up from £3.7m ($5.86m) to £13.8m ($21.8m).

The group recently earned approval for a partial flotation on the Singapore stock exchange.

Delayed as a result of the uncertain financial markets, the flotation is still expected to take place before the end of the year.