**Basic and diluted earnings/(loss) per share is calculated by dividing the profit/(loss) attributable to owners of the Company by the weighted average number of ordinary shares in issue during the year, as adjusted for the reorganisation transactions described in supplemental note 1.*** Gross debt is down 18% compared with 30 June 2012, £436.9m. Revenue Analysis Commercial Commercial revenue for the quarter increased 24.3% to £43.0 million driven by the addition of several new global (including General Motors - Chevrolet) and regional sponsorships; an increase in receipts from existing partnerships; an increase in profit share pursuant to the arrangement with Nike; and the commencement of new mobile partnerships. For the quarter:
- Sponsorship revenue increased 32.4% year on year to £27.8 million. Manchester United entered into ten new sponsorship agreements during the quarter;
- Retail, Merchandising, Apparel & Product Licensing revenue increased 11.9% year on year to £9.4 million; and
- New Media & Mobile revenue increased 11.5% year on year to £5.8 million.
|a)||timing differences of £5.6m as a result of playing one UEFA Champions League game in the current year quarter compared to two games in the prior year quarter; a ‘residual receipt’ from UEFA relating to the 2011/12 UEFA Champions League competition will be received in Q2; and two fewer live FAPL broadcasts this year compared to the same period in the prior year.|
|b)||permanent differences of c.£2.6m resulting largely from lower distributions from the UEFA Champions League fixed pool, as a consequence of finishing 2 nd in the Premier League in season 2011/12 compared to finishing 1 st in season 2010/11.|