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Old 13-05-2011, 12:20 PM
fred tissue
Default Manchester United announce latest set of financial figures

Profits boosted by huge rise in commercial activity
Increased turnover, but drop in matchday revenue

Manchester United are still on course to become the first football club to break through the 100million barrier for annual commercial turnover.

United have posted their third quarter figures this morning, which show commercial revenue has risen to 75.3million, up 33% compared to 12 months ago.

The increase helps compensate for a combined 5million decrease in media and matchday revenue within the third quarter, which club officials put down to a reduction in the number of home games and the fact prices were pegged for an FA Cup fifth round tie with non-league Crawley in March.

United have also confirmed they have bought back an additional 5.5million in bonds, taking the overall amount purchased to 29.5million.

Total turnover stands at 231.7million, up from 219.3million, to March 31, 2011.

United's gross debt has also fallen to 477.7million, although this is thought to be a direct result of a conversion to sterling of money owed in dollars, which is weak against the pound.

The club still has 113million in cash, or its equivalents, which, despite the likelihood that they will clinch a record 19th league title on Saturday and have a Champions League final against Barcelona to look forward to on 28 May, many fans believe should be invested in Sir Alex Ferguson's squad.

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