Red army boosts Man United
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE MARCH of its merchandising arm has helped Manchester United, the publicly quoted football club, to drive annual taxable profits up by 156 per cent to pounds 10.77m, writes Martin Flanagan.
Martin Edwards, chief executive, said it was possible merchandising sales this year might for the first time outstrip gate receipts, traditionally the club's chief moneyspinner.
In the year to 31 July, merchandising sales - ranging from football kits to videos and magazines - nearly trebled to pounds 14.23m. Turnstile revenue leapt 68 per cent to pounds 17.92m, as United, Premier League champions for the second year running, played regularly to capacity home crowds of 44,000.
This figure benefited from a full season's use of the redeveloped Stretford End at Old Trafford stadium.
Profits from conference and catering, sponsorship and royalties, and television, all advanced - by 67, 30 and 3 per cent respectively.
Stripping out player transfers, profits rose 40 per cent to pounds 11.45m as United made a net deficit of only pounds 675,000 on transfer deals against a near pounds 4m deficit last time.
A final dividend of 14.5p makes a total of 21p (19.5p). United also disclosed it is planning a free issue of four new shares for every one held to make them easier to trade. The shares rose 9p to 694p.
Manchester United is also negotiating to acquire land next to Old Trafford as part of a scheme to increase capacity by 10,000.
(Photograph omitted)
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments