- Increased second quarter commercial revenue 29.0% year on year.
- Completed the strategic acquisition of BskyB’s one-third stake in MUTV, taking full control of our global television channel.
- Executed an additional six new Sponsorship deals – Kansai and Singha (global; headquartered in Japan/South Africa and Thailand), Wahaha and Multistrada (regional; China and Indonesia respectively); and China Construction Bank and Denizbank (financial services; China and Turkey respectively).
- Premier League Clubs agreed to a system of enhanced financial regulations – The new regulations include a short-term cost control protocol, which would limit the amount by which clubs could raise their player costs.
- Finalised 2013 summer tour which includes games in Australia, Japan, and Hong Kong.
- Revenue to be £350m to £360m.
- Adjusted EBITDA to be £107m to £110m.
|Key Financials (unaudited)|
|£ million||Three months ended 31 December||Six months ended 31 December|
|Profit on ordinary activities before Tax||28.4||19.2||47.9%||22.3||12.8||74.2%|
|Profit for the period from continuing operations (i.e. Net Income)||16.2||42.1||(61.5%)||36.7||37.1||(1.1%)|
|Basic and diluted earnings per share (EPS)**||0.10||0.27||(63.0%)||0.23||0.24||(4.2%)|
|Cash and cash equivalents||66.6||50.9||30.8%||66.6||50.9||30.8%|
|* Adjusted EBITDA is a non-IFRS measure. We define Adjusted EBITDA as profit/(loss) for the period from continuing operations before net finance costs, tax credit/(expense), depreciation, amortisation of, and profit on disposal of, players’ registrations and exceptional items. We believe Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our capital structure (primarily interest expense and exchange rate gains or losses), asset base (primarily depreciation and amortisation) and items outside the control of our management (primarily income taxes and interest income and expense). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported under IFRS as issued by the IASB. A reconciliation of Adjusted EBITDA to profit/(loss) for the period from continuing operations is presented in supplemental note 4. ** See supplemental note 2. *** Gross debt has decreased by 16.1% since 30 June 2012 (£436.9 million).|
- Sponsorship revenue increased 48.6% to £20.8 million;
- Retail, Merchandising, Apparel & Product Licensing increased 13.1% to £9.5 million; and
- New Media & Mobile increased 1.9% to £5.3 million.