Profits up, costs up an debt up at Manchester United as the club announces its quarterly trading figures today.
With turnover up due mainly to TV income, staff costs rose fourteen per cent mainly due to the arrival of Jose Mourinho, Zlatan Ibrahimovic, Paul Pogba and Henrikh Mkhitaryan.
More worryingly for the club, debt is also on the increase up twenty seven per cent, a fact that the club put down to the weakness of the pound against the dollar following the Brexit vote.
” We are pleased to be competing for the first available trophy of the season when we travel to Wembley to face Southampton in the EFL Cup final this month.” said Executive vice chairman Eric Woodward adding:
“The robustness of our business model continues to be reflected in our strong quarterly financial results and we remain on track to deliver record revenues for the year.”