Man United predicting record revenues of up to £570m

Manchester United are performing better than expected off the field and are now predicting record revenues of up to £570 million this year.

Jose Mourinho’s men sit sixth in the Premier League and have the Europa League final against Ajax to look forward to next week, but despite being without Champions League football, United have raised guidance on revenue and profit for the year ending June 30, 2017.

United have increased projected revenue in their third quarter results to between £560m to £570m — a £30m rise on the second quarter prediction.

The club achieved a record profit of £191.9m last year and, despite big-name acquisitions and the lack of Champions League football, are on course for earnings before interest, tax, depreciation and amortisation of between £185m to £195m.

United executive vice-chairman Ed Woodward said: “As we near the end of the season, I am delighted we have picked up two trophies so far, and look forward to competing for a third in the Europa League final, the only trophy we have never won.

“We are forecasting better full year financial performance than expected and as such have raised our revenue and profit guidance for the year.

“We look forward to a strong finish to 2016-17, both on and off the pitch.”

Total revenue for the fiscal third quarter ending March 31, 2017 was £127.2m and broadcasting revenues of £31.4m were up 12.9 percent for the quarter.

Staff costs rose 18.3 percent on the previous year quarter and net debt is £366.63m, representing a £17.6m increase over the year but US dollar debt principal remains unchanged.