Man-U profits dip

Updated: 25 February 2007 09:09 IST

Manchester United has reported lower annual profits of 27.9 million pounds from 39.3 million last time.

Man-U profits dip
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London:

Manchester United has reported lower annual profits of 27.9 million pounds from 39.3 million last time and warned future results would be affected by a drop in media revenues. Its weaker performance on the pitch -- they finished third in the English Premiership last season - as well as three major transfers - including that of Wayne Rooney - dented the bottom line. But United said its operating profits rose 6 per cent on the year to 58.3 million pounds. The figure, which does not take into account the depreciating value of players, was up on last year's 55.1 million. Turnover for the year was down by 4 million pounds at 169 million, a performance helped by continued strong demand for games at Old Trafford. The group said the anticipated decline in media revenues partly reflected the Premiership's new three-year television contracts. The transfers of Rooney, Gabriel Heinze and Alan Smith were also expected to hit the group's finances. (AP)

Topics : Football
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