Manchester United revenues slip on fewer home games

Revenue at Manchester United fell in the first quarter as the Premier League club played fewer home games.

Sales for the three months to 30 September came in at £135m, compared with £143.7m a year earlier, it said.

However, the 20-time English champions stuck to their full-year financial forecasts.

United, whose squad features French World Cup winner Paul Pogba and Spanish goalkeeper David de Gea, are currently eighth in the Premier League.

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They are 12 points behind leaders and cross-town rivals Manchester City.

‘Financial strength’

During the three-month period, which covered the start of the season, the club said it played two fewer home games than last year which translated into lower sales of matchday tickets and merchandise.

This was due to a quirk of scheduling between the first and second quarters.

Sponsorship also dipped, primarily due to a smaller summer tour, although turnover from broadcasting jumped almost 5% to £43m.

The club said it still expected to report revenues of £615m-£630m in 2018-19 while earnings before interest and other charges would come in at £175m-£190m.

“Our financial strength enables us to continue to attract and retain top players and to invest in our academy, as we look to drive the success on the pitch that the club and our fans expect,” executive vice chairman Ed Woodward said.

This year Manchester United was again named Europe’s most valuable football club, according to accountancy giant KPMG.

The club topped KPMG’s study of top sides’ “enterprise value”, being worth about €3.25bn (£2.9bn), ahead of Real Madrid and Barcelona.