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Manchester United, this morning, announced the details of their books for the last quarter, with the club recording operating profits in the region of £37.6M, Sky Sports reports.
Also relevant is a rise in the club’s net debt over the year, a 27% increase ensuring that United owe £87.2M more than they did at the end of 2015. This is said to be caused by the fall in value of the Pound following the Brexit fiasco.
While debt figures seem intimidating, it must be remembered that debt for corporations of the size of Manchester United are almost never bad things, as they represent a healthy attempt at investment, one that is sure to generate more revenue in the long term.
Executive vice-chairman Edward Woodward was positive about the club’s books.
“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,” Woodward said. “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.”