United have announced that their operating profit for the first half of the fiscal year has reached £32.6M, a substantial improvement from a £3.9M loss in the same period last year.
Despite the increase in profit, total revenues for the second quarter experienced a slight decline to £190.3M, down from £198.7M which could be a worrying sign for the club who are chasing Champions League football.
Chief executive Omar Berrada praised the results this week as strategic changes such as cost-cutting and investment in both the men’s and women’s team paid off.
“We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability. We continue to take a football-first approach and invest in both our men’s and women’s first teams.
“On the pitch our men’s team sits fourth in the Premier League and our women’s team are second in the Women’s Super League, as well as reaching the League Cup final and the quarter-final of the UEFA Women’s Champions League.
“Today’s results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our men’s and women’s teams."
The Red Devils have never gone three consecutive years without reaching the European top-flight and currently sit 4th in the Premier League under interim boss Michael Carrick.
Securing European football would help finances significantly, especially Champions League football which fans are desperate for.