Man United announce profit boost as CEO hails ‘off-pitch transformation’ | OneFootball

Manchester United has reported a significant surge in operating profit for the first half of the fiscal year, attributing the financial upturn to an "off-pitch transformation" despite a dip in overall revenues.

The club's chief executive, Omar Berrada, highlighted the positive impact of these strategic changes.

The Premier League giants recorded an operating profit of £32.6 million in the six months leading up to the end of the fiscal period, a stark contrast to the £3.9 million loss experienced during the same timeframe last year.

For the most recent quarter alone, operating profit reached £19.6 million, a substantial increase from £3.1 million in the previous year.

This financial improvement follows a comprehensive redundancy programme and restructuring overseen by minority owner Sir Jim Ratcliffe.

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Sir Jim Ratcliffe has implemented significant cost-cutting measures (Lucy North/PA) (PA Wire)

The club explicitly stated that these figures reflect "the positive impact of operating cost and headcount reduction programmes implemented in the prior year."

However, total revenues for the second quarter saw a slight decline to £190.3 million, down from £198.7 million. Commercial revenue fell from £85.1 million to £78.5 million, and matchday revenues decreased from £52 million to £49.5 million.

Despite the revenue dip, the club remains optimistic about future profitability, buoyed by strong on-pitch performances.

The men's team currently sits fourth in the Premier League, while the women's side is second in the Women's Super League and has reached the quarter-finals of the UEFA Women’s Champions League.

Mr Berrada commented: "We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability. We continue to take a football-first approach and invest in both our men’s and women’s first teams.

“On the pitch our men’s team sits fourth in the Premier League and our women’s team are second in the Women’s Super League, as well as reaching the League Cup final and the quarter-final of the UEFA Women’s Champions League.

Today’s results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our men’s and women’s teams."