LONDON: Manchester United chief executive Omar Berrada highlighted the “positive financial impact of our off-pitch transformation” after the club recorded a profit increase following their recent job cuts.
United generated an operating profit of £32.6 million ($44 million) in the first six months of the fiscal year, compared with a £3.9 million loss for the same period last year.
The operating profit for the most recent quarter, over the last three months, was £19.6 million, compared to £3.1 million in the same period last year.
Those numbers come after United minority owner Jim Ratcliffe, who heads the club’s football operation, oversaw a redundancy and restructuring program that saw around 450 jobs cut.
In announcing their latest figures on Wednesday, United said they had seen “the positive impact of operating cost and headcount reduction programs implemented in the prior year.”
United’s total revenues for the second quarter of the financial year were £190.3 million, down from £198.7 million for the equivalent period the previous year.
Commercial revenue dropped from £85.1 million to £78.5 million and match-day revenues down from £52 million to £49.5 million.
The fall in total revenues can be linked to United’s failure to qualify for the Champions League or Europa League last season, denying them the income from European matches this season.
But with United up to fourth place in the Premier League this term under interim boss Michael Carrick, and the women’s team through to the Champions League quarter-finals, the club believe they are well placed for a further rise in profits.
United say they remain on track to record revenues of between £640 million and £660 million for the full fiscal year.
“We are now seeing the positive financial impact of our off-pitch transformation materialize both in our costs and profitability,” Berrada said.
“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.”
Man Utd financial results show profit increase after job cuts
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Man Utd financial results show profit increase after job cuts
- United generated an operating profit of $44m in the first six months of the fiscal year
- “We are now seeing the positive financial impact of our off-pitch transformation materialize both in our costs and profitability,” Berrada said
UEFA rejects Benfica’s appeal against Prestianni ban for alleged racism toward Vinícius Jr
- UEFA said Wednesday, hours before the game was scheduled to begin, that its appeal body dismissed Benfica’s application against the suspension
- It confirmed the decision of its control, ethics and disciplinary body from Monday
NYON, Switzerland: UEFA has rejected Benfica’s last-minute appeal against the provisional suspension of Gianluca Prestianni, meaning he remains ruled out of the Champions League playoff second leg against Real Madrid on Wednesday.
Prestianni was provisionally suspended on Monday for one match following accusations he racially abused Vinícius Júnior in the first leg last week.
The game was halted for nearly 10 minutes after the Madrid forward scored and then celebrated by the Benfica corner flag, upsetting local fans and players. After being confronted by Prestianni, Vinícius accused the Argentine player of calling him “monkey.”
Prestianni, who covered his mouth with his shirt while talking to Vinícius, has denied racially insulting the Brazil star, who is Black.
UEFA said Wednesday, hours before the game was scheduled to begin, that its appeal body dismissed Benfica’s application against the suspension and that it confirmed the decision of its control, ethics and disciplinary body from Monday.
During the game, the anti-racism protocol was activated but no further action was taken as there had been no evidence against Prestianni.
Vinícius’ teammate Kylian Mbappé said he heard Prestianni use the racial slur five times.
But Benfica has supported their player, claiming Madrid players who said they heard the insult were too far away. The Portuguese club said they welcomed UEFA’s investigation and that they “fully support and believe the version presented” by Prestianni, “whose conduct while with the club has always been guided by respect” toward everyone.
José Mourinho also backed Prestianni and criticized Vinícius for his celebration after the goal – for which the player was booked. The Benfica coach said something always happens in stadiums where Vinícius plays.
Madrid goalkeeper Thibaut Courtois said Tuesday it was wrong to use Vinícius’ celebration to justify the alleged act of racism.
Bayern Munich coach Vincent Kompany was among those who also criticized Mourinho for attacking Vinícius after last week’s match.
Mourinho is suspended for the second leg because he was sent off late in the first leg for referee dissent. But he also traveled to Madrid with Prestianni, who trained with the rest of the team on Wednesday before UEFA rejected his club’s appeal.
