Manchester United returns to profit in second quarter

Net profit came in at 6.3 million pounds ($7.78 million) in the quarter, compared with a loss of 1.4 million pounds a year earlierer

Yadarisa Shabong and Eva Mathews, Reuters News

March 30, 2023

UNITED KINGDOM FOOTBALL

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Manchester United said on Thursday the club returned to a net profit in the second quarter on the back of higher commercial revenue and lower wages.

Net profit came in at 6.3 million pounds ($7.78 million) in the quarter, compared with a loss of 1.4 million pounds a year earlier.

Manchester United's American owners, the Glazer family, launched a formal sale process late last year and have received several bids, including from Sheikh Jassim Bin Hamad Al Thani, the son of Qatar's former prime minister, British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, and Finnish businessman Thomas Zilliacus.

The Old Trafford club did not provide any details about the sale on Thursday.

($1 = 0.8098 pounds) (Reporting by Yadarisa Shabong and Eva Mathews in Bengaluru; Editing by Shounak Dasgupta)

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