Manchester United post record profits

Updated: 02 September 2011 14:10 IST

English champions Manchester United posted record operating profits of

Manchester United post record profits
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London:

English champions Manchester United posted record operating profits of £110.9million ($179.7million) for the past financial year, figures released on Thursday showed.

The Old Trafford club has also recorded a record revenue of £334.1million - an increase of £45million from last year and passing £300million for the first time - according to figures for the year ended June 30, 2011.

United, who won the Premier League title and reached the Champions League final during the period, have also recorded a commercial turnover of £103.4million - which doesn't include a new £10million a year sponsorship deal with global delivery company DHL.

The figures were published as United considered a plan to raise more than £600million by selling shares on the Singapore Stock Exchange.

That would help the Old Trafford club, owned by the US-based Glazer family, pay down a net debt that now stands at £308.3million - down from £376.9million, according to the new figures.

The new results contrast markedly with last year's figures when losses hit a record £83.3million, primarily as a result of the cost of a bond issue.

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