Manchester United has raised their annual revenue and core profit forecast for the year to June
However the club reported a net loss of £11.8 million for its fiscal third quarter, wider than a year earlier, weighed by falling sponsorship revenue and weaker ticket sales.
The club operating profit of £37.7m for the nine months to 31 March, compared to a £3.2m loss in the same period last year.
The club attributes the improvement to the benefits of operating cost and headcount reduction programmes implemented in the prior year, along with improved performance in the Premier League.
The club also stated that work continues behind the scenes on its ambition to build a new 100,000-seater stadium.
The forecast increase was helped by a third-place finish in the English Premier League and as fans snapped up merchandise as the team’s fortunes improved on the pitch.
The club said that exceptional items for the quarter were a cost of £16.7million, primarily as a result of costs associated with the exit of former men’s first team head coach Ruben Amorim’.
