Manchester United (NYSE: MANU; the “Company” and the “Group”) – one of the most popular and successful sports teams in the world - today announced financial results for the 2014 fiscal second quarter and six months ended 31 December 2013.
- Commercial revenues of £42.3 million up 18.8% for the quarter and 30.0% for the year to date.
- Six new sponsorship deals activated in the second quarter – Unilever and Hong Kong Jockey Club (regional); Banif Bank (financial services); Fuji TV and SPOTV Korea (MUTV) and STC (mobile).
- Broadcasting revenues increased 18.7% for the quarter primarily due to the new FAPL domestic and international TV rights agreements.
Ed Woodward, Executive Vice Chairman commented, “We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the Team Manager down has acknowledged is disappointing. We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business. We are also very pleased to have added a world class player in Juan Mata to our squad, who has already made a positive impact."Outlook For fiscal 2014, Manchester United continues to expect:
- Revenue to be £420m to £430m.
- Adjusted EBITDA to be £128m to £133m.
|£ million (except adjusted earnings/(loss) per share)|| Three months ended
| Six months ended
|Profit for the period (i.e. net income)||19.0||16.2||17.3%||18.7||36.7||(49.0%)|
|Adjusted profit for the period (i.e. adjusted net income)*||19.8||19.0||4.2%||22.0||18.4||19.6%|
|Adjusted basic and diluted earnings per share (pence)*||12.08||11.60||4.1%||13.45||11.34||18.6%|
|Cash and cash equivalents||72.1||66.6||8.3%||72.1||66.6||8.3%|