Manchester United profit surges in second quarter

Manchester United earnings: Manchester United reported a major increase in net income for the second quarter, driven by lucrative UEFA Champions League broadcasting revenue. The Premier League club announced a net income of 20.4 million pounds for the three-month period ending December 31, compared to 6.3 million pounds in the previous year.

The club expressed optimism about the future, particularly following the completion of Sir Jim Ratcliffe's investment. Ratcliffe, the new co-owner, is expected to play a key role in steering the club towards success on the pitch. Manchester United's finance chief, Cliff Baty, highlighted the club's focus on collaboration with its new co-owners to drive progress and achievement.

Ratcliffe's acquisition of a 25 per cent stake in the club in December marked a significant development, with plans to oversee soccer operations and revitalise the team's performance.

Despite being currently positioned sixth in the Premier League table, Manchester United remains committed to its goals. In January, the club adjusted its annual profit and revenue forecast, maintaining its outlook despite its Champions League exit.

Revenue for the quarter surged by 35 per cent to nearly 226 million pounds, reinforcing the club's financial resilience and potential for growth in the upcoming quarters.

(With Reuters inputs)