Skip to main content

MANCHESTER UNITED TARGET TROPHIES AS REVENUE HITS RECORD HIGH

Manchester United executive vice-chairman Ed Woodward underlined the club’s hunger for silverware on Tuesday after announcing record-breaking revenues.
United, under manager Jose Mourinho, are seventh in the Premier League after a disappointing start to the season, eight points behind leaders Liverpool and six behind reigning champions Manchester City.
The club has not won the Premier League since 2013, under former boss Alex Ferguson.
United, who have been top of the Deloitte Football Money League for two successive years, brought in £590 million ($776 million) in the year ending June 30, 2018 — a rise of just 1.5 percent on the previous year.
But the expectation is for revenue to rise to between £615 million and £630 million over the coming financial year.
“Everyone at the club is working tirelessly to add to Manchester United’s 66 and Jose’s 25 trophies,” Woodward said. “That is what our passionate fans and our history demands.
“We are committed to our philosophy of blending top academy graduates with world-class players and are proud that, once again, last season we had more academy graduate minutes on the pitch than any other Premier League club.
“Our increased revenue expectation for the year demonstrates our continued strong long-term financial performance which underpins everything we do and allows us to compete for top talent in an increasingly competitive transfer market.”
Manchester City earlier this month posted record revenues of £500.5 million following their record-breaking season.
United’s annual accounts reveal that the Old Trafford giants paid employees £295.9 million in fiscal 2018 — a hike of £32.4 million over the previous year.
The club said the increase was “primarily due to player salary uplifts related to participation in the UEFA Champions League” but Alexis Sanchez’s January arrival will also have made an impact.
United saw operating profits drop by 45.4 percent to £44.1 million. That was largely due to the United States’ federal corporate income tax rate being reduced from 35 percent to 21 percent.
Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were £177.1 million, down from £199.8 million the previous year.

Comments

Post a Comment

Popular posts from this blog

10 ISSUES RAISED BY SEN. BUKOLA SARAKI DURING WORLD PRESS CONFERENCE

Post a Comment
Read more

POLICE SUE FOR SUPPORT OF PARENTS IN FIGHTING AGAINST CRIME

The Cross River State Police Command has expressed concern over the high rate of proliferation of arms and light weapons among young youths, with a call on parents to be vigilant about the activities of their wards both within and outside their immediate environment. The state Commissioner for Police, Hafiz Inuwa, made this known while speaking at the State CID in Calabar the Cross River State Capital while parading 17 young men with different kinds of arms and ammunition arrested by the police for ranging offences. He Emphasised that security is a collective responsibility and parents have a greater responsibility to this effect. Other items recovered by police included, plasma televisions, gadgets, locally made pistols, army jungle caps among other items. Some of the crimes they were arrested for included, armed robbery at the University of Calabar Staff quarters and different locations in the state, attempted kidnapping, unlawful possession of firearms and cultism...
Post a Comment
Read more

UNILORIN PRODUCES 89 FIRST CLASS GRADUATES

Prof. AbduGaniyu Ambali, the Vice-Chancellor, University of Ilorin, said on Friday that the institution had produced a total of 89 first class graduates for the 2016/2017 academic session.  The Vice-Chancellor made this disclosure in Ilorin on the occasion of a handover and valedictory press conference,  which signaled the commencement of the 33rd convocation ceremonies of the university. In his address entitled: “You are great”, the VC said that the university was thriving academically, going by the quality and quantity of research works embarked upon by lecturers. He gave a breakdown of the graduating students thus: 89 First Class Division, 1,932 Second Class Upper Division and 3,727 Second Class Lower Division. The VC also said that 1,309 of them graduated with Third Class Division, 117 with ordinary pass while there were two aegrotat graduating students. While handing over to Pro...
Post a Comment
Read more