Manchester United’s executive vice-chairman Ed Woodward has pledged a return to winning ways for the English Premier League club, following a “turbulent season” for the team despite revenues continuing to improve off the pitch.
On Thursday, reporting third-quarter results, covering three months to 31 March 2019, the club said revenues were £152.1m, an increase of 3.4 per cent compared to the same period last year.
Pre-tax profits also rose to £11.1m, up from £8.3m from a year earlier.
The increases are mainly due to increased broadcasting revenue received for the team’s extended run in the Champions League, the most prestigious tournament in club football, where it reached the quarter-finals.
But Manchester United finished this season in a disappointing sixth place in the Premier League, outside the qualification places for next season’s Champions League competition.
The failure is likely to hit revenues next season, as the club will miss out on the more than €2bn that will be distributed among participating clubs. Instead, the team will play in the Europa League, a lesser continental tournament in which only €510m is shared between teams.
Mr Woodward said: “After a turbulent season, everyone at Manchester United is focused on building towards the success that this great club expects and our fans deserve. Preparations for the new season are under way and the underlying strength of our business will allow us to support the manager and his team as we look to the future.”
In March, the club appointed Ole Gunnar Solskjaer as its full-time manager of on a three-year contract. Manchester United is also searching for a new “head of football” as part of plans to overhaul its sporting operations in a bid to get back to the top of English and European football.
The club retained its forecast that full-year revenues will be between £615m-630m.