epa05499671 A Manchester United fan wearing a replica shirt bearing the name of Manchester United's new midfielder Paul Pogba stands outside the stadium ahead of the English Premier League soccer match between Manchester United and Southampton at Old Trafford, Manchester, Britain, 19 August 2016. EPA/PETER POWELL No use with unauthorized audio, video, data, fixture lists, club/league logos or 'live' services. Online in-match use limited to 75 images, no video emulation. No use in betting, games or single club/league/player publications EDITORIAL USE ONLY
BENGALURU: English soccer club Manchester United posted a 25% fall in quarterly core earnings as its absence from the lucrative Champions League competition and fewer home games at the start of the season hit its matchday revenue.
United, whose players include Paul Pogba and Zlatan Ibrahimovic, are currently sixth in the 20-team English Premier League.
The team failed to reach the Champions League for the current 2016-17 season after finishing only fifth in the Premier League in the last campaign. They are currently playing in the Europa League, Europe’s second-tier competition.
“Our financial results for this quarter reflect the impact of our non-participation in the UEFA Champions League, we are pleased that we remain on track to deliver record revenues for the coming year,” United Executive vice-chairman Ed Woodward said in a statement.
The club’s adjusted earnings before interest, tax, depreciation and amortisation for the three months to Sept 30 fell to £31.2mil (RM170.2mil) from a record £41.6mil (RM226.9mil) a year earlier.
The team played 3 fewer home games at Old Trafford in the period compared to a year earlier, partly down to the scheduling of Premier League fixtures.
Revenue came in at £120.2mil (RM655.7mil) falling from £123.6mil (RM674.3mil) a year ago.
Commercial revenue rose 4.4% to £74.3mil (RM405.5mil) and now makes up about 62% of total income, the club said.
The club, controlled by the American Glazer family, maintained its revenue and profit forecasts for the 2016-17 year as a whole. The period to the end of September is the first quarter of its financial year. - Reuters
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