Man Utd coffers continue to increase

Manchester United has reported a 74% rise in profits for the second half of 2012, on the back of rising revenues, reports BBC News.

Manchester United has reported a 74% rise in profits for the second half of 2012, on the back of rising revenues, reports BBC News.

The Premier League club said pre-tax profits for the last six months of the year were £22.3m.

The club, owned by the Glazer family, listed on the New York Stock Exchange, with shares now trading at nearly $19 giving the company a valuation of over $3bn.

Ed Woodward, Manchester United's executive vice chairman, said the club's commercial operation "continues to experience extremely strong growth particularly in sponsorship".

Commercial revenue from sponsors such as Nike and Aon rose 26.4% to £78.6m for the six months to 31 December 2012.

The Old Trafford club still has debts of £366.6m and staff costs rose by more than 10% to £84.5m, mainly thanks to new player signings and player wage increases.

The club claims to have 650 million supporters worldwide.

 

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