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Manchester United Posts Q1 Operating Profit but Reports Net Loss as Europe Absence Bites

Cost cuts lifted operating performance despite revenue pressure from missing European competition.

Overview

  • Total revenue for the quarter fell 2% to £140.3m, reflecting the lack of European fixtures and two fewer home games.
  • Operating profit reached about £13m, reversing a loss a year earlier as headcount and other costs were reduced.
  • The club recorded a £6.6m net loss for the period, and The Times reported net debt near £749m with finance costs driving a pre-tax loss.
  • Employee wages fell 8.2% to £73.6m after redundancies, while sponsorship revenue dropped 9.3% following the end of the Tezos training-kit deal.
  • United maintained full-year guidance of £640–£660m revenue and £180–£200m core profit, with retail and licensing up to £37.2m after a fuller e-commerce rollout.