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27/09/2004
Drop in TV income sees Man Utd profits fall
Pre-tax profits at Premiership giants Manchester United have slipped £11.4 million on last year's mark, according to the club's annual results published today.
For the year ending July 31, group turnover slipped from £4 million to £169 million, but operating profits were strong at £58.3 million – a 6% increase on last year. Club chief executive, David Gill, put the revenues dip down to a drop in TV income.
However, he said today that Man Utd were determined to "become the best football club on and off the field".
"Despite the expected fall in media revenues in this current year, our long term strategic planning will ensure that we continue to grow as both a business and football club," he said.
"Today, we have also taken the initiative of providing a full and transparent disclosure of our player transfers and agent fees to demonstrate our confidence in our processes."
The club also said that it had set a benchmark by providing full and transparent disclosure of all player transfer activity and agent fees.
(gmcg/mb)
For the year ending July 31, group turnover slipped from £4 million to £169 million, but operating profits were strong at £58.3 million – a 6% increase on last year. Club chief executive, David Gill, put the revenues dip down to a drop in TV income.
However, he said today that Man Utd were determined to "become the best football club on and off the field".
"Despite the expected fall in media revenues in this current year, our long term strategic planning will ensure that we continue to grow as both a business and football club," he said.
"Today, we have also taken the initiative of providing a full and transparent disclosure of our player transfers and agent fees to demonstrate our confidence in our processes."
The club also said that it had set a benchmark by providing full and transparent disclosure of all player transfer activity and agent fees.
(gmcg/mb)
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