Poor performances don't affect Manchester United's results
The club's making more money than ever before...15:04 Thursday 9 February 2017, 15:04 9 Feb 2017
Manchester United is on track to post a record profit during its current financial year as on-field disappointments have failed to dampen its power to make deals away from Old Trafford.
Revenues during its second quarter rose to £157.9m (€185.5m)- that's an increase of 18%.
Its operating profit was £37.6m (€44m) - that's 15% higher.
New TV deals boosted the club's coffers broadcasting revenue rose to £52.5m (€62m) - that's 40.8% higher than one year ago.
In the three months to the end of 2016 it announced new commercial deals with music streamers Deezer, Mlily (mattress manufacturer) and renewed partnership with Concha Y Toro (wine makers).
Ed Woodward, Executive Vice Chairman, commented, "The robustness of our business model continues to be reflected in our strong quarterly financial results and we remain on track to deliver record revenues for the year".
He added his congratulations to Wayne Rooney for becoming the club's leading goal scorer - and highlighted the team's achievement of reaching the EFL Cup final.
The club is currently 6th in the Premier League - two places and three points away from the final Champion's League spot.
It is set to record full-year revenue between £530m to £540m and EBITDA of £170m to £180m.
Manchester United has shifted its focus towards an increased reliance on 'commercial' income (through partnerships with brands) - these activities will account for more than combined box-office and TV income for the first time ever this year.
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