Manchester United posts record figures

Manchester United Plc, the champion of English soccer’s Premier League, said third-quarter profit more than tripled after a tax credit and additional sponsorship agreements.

Net income rose to £3.6m (€4.25m), or 2p a share, in the three months ended Mar 31, compared with £1.1m, or a penny, in the year-earlier period, according to a statement.

Sales at the record 20-time English champion rose 30% to £91.7m, paced by a jump in commercial revenue as sponsorship income rose 52%. The team, which won the English title this season with four games to spare, signed agreements with two financial services companies and a social- game maker.

“Each of our three primary sectors — commercial, broadcasting, and matchday — delivered strong top-line gains and helped us achieve a record third quarter,” said Ed Woodward, the team’s executive vice chairman, in the statement.

Gross debt declined 13% to £367.6m, the team said. It had £36.2m in cash at the end of the quarter, and there was a non-cash tax credit of £6.7m.

Staffing costs rose 25% in the period, pushing operating expenses up 19% to £79m, United said.