Premier League

Manchester United returns to profit in second quarter

Published

8 months ago

March 30, 2023 1:56pm

Manchester United (MANU.N) said on Thursday the club returned to a net profit in the second quarter on the back of higher commercial revenue and lower wages.

Net profit came in at 6.3 million pounds ($7.78 million) in the quarter, compared with a loss of 1.4 million pounds a year earlier.

Manchester United’s American owners, the Glazer family, launched a formal sale process late last year and have received several bids, including from Sheikh Jassim Bin Hamad Al Thani, the son of Qatar’s former prime minister, British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, and Finnish businessman Thomas Zilliacus.

The Old Trafford club did not provide any details about the sale on Thursday.

-Reuters

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Kunle Solaja

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Manchester United returns to profit in second quarter

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