Manchester United has reported record revenues for the 2014 fiscal first quarter ended 30 September 2013.
Revenue hit £98.5m (€117.6m, $158.0m) over the first quarter, an increase of 29.1%.
It also reported commercial revenues of £59.9m.
The increase was generated by income from sponsorship and television deals.
“We are pleased to have achieved another record first quarter, driven by the strength of our commercial business and increased broadcasting revenues,” said Ed Woodward, executive vice chairman of the football club.
Sponsorship revenues increased 62.6% and retail, merchandising apparel & product licensing revenue were up 13.8%.
Furthermore, broadcasting revenues increased 40.9% due to the new FAPL domestic and international TV rights agreements.
Woodward cited a favourable context for Manchester United’s continued growth prospects as evidenced by BT Sport’s recent acquirement of Champion League broadcasting rights for £900m.
“Our unique approach to the commercial business will continue to drive future growth. We are also excited by the continuing rise in the value of sports content, evidenced, amongst other things, by the recently announced BT deal for the UK rights to broadcast the Champions League and Europa League matches for three seasons from 2015/16. This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenues for the participating clubs,” he added.
For fiscal 2014, Manchester United expects revenue to be £420m to £430m.
Manchester United first listed on the stock market in August last year, the shares started trading at $14, under Sir Alex Ferguson’s reign.
– IB Times
