Operating profit up after £7m loss a year earlier
United’s revolving credit up from £35.7m to £268m
Manchester United’s operating profit rose to £13m in the financial year’s first quarter, compared with an equivalent £7m loss 12 months earlier, and the chief executive, Omar Berrada, said this was down to “the difficult decisions made in the past year” by Sir Jim Ratcliffe.
However, United’s total debt has now risen to a record high of £1.29bn. United’s revenue was £140.3m, down from £143.1m 12 months previously, and the club’s revolving credit rose £35.7m to £268m, with noncurrent borrowings remaining at £650m.
Since Ratcliffe became the largest minority owner in February 2024, his budgetary adjustments have included making about 450 redundancies, which will take the head count to around 800. The Ineos chair has also ended Sir Alex Ferguson’s ambassadorial role, saving about £2m a year, and cut free lunches for United employees.
