Manchester United's net debt increases by £127.4m to £429.1m in a year

• United make pre-tax loss of £28.55m from 1 January to 31 March
• Financial results show impact of coronavirus pandemic

Manchester United’s net debt increased by £127.4m to £429.1m in the 12 months to 31 March 2020, their latest set of accounts reveal.

United made a pre-tax loss of £28.55m in the third-quarter from 1 January to 31 March, compared with a £11.117m pre-tax profit in the same period last year, because of the initial impact of the coronavirus pandemic and adverse movements in the US$-exchange rate. Net finance costs for the quarter were £25.3m because of the rate, an increase of £22.2m on the same period the previous year.

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