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Brexit causes Manchester United’s debt to soar

andypye 0 Comments , ,

Manchester United are on track to achieve record revenues despite their absence from this season’s Champions League, although their net debt has increased by 27.1% to £409.3m due to ‘strengthening dollar’ and the post-Brexit collapse of the pound.

United returned to the top of the Deloitte Football Money League for the first time since 2005 last month and on Thursday they announced record profits for any quarter in their history. Total revenue for the fiscal second quarter ending 31 December 2016 was £157.9 million – an 18% improvement on the same period in 2015 – despite missing out on Champions League qualification.

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andypye

Andy Pye has been an editor and technical writer serving UK manufacturing industry for nearly 40 years. He is currently Managing Editor of Controls, Drives and Automation and Editor of Environmental Engineering, two leading bimonthly titles. He also writes directly for several engineering companies and PR agencies, providing technical copy and website content. Andy is a Cambridge University graduate in Materials Engineering. In the 1970s, prior to entering the technical publishing industry, he worked for a consultancy organisation where he became an international expert on asbestos substitution and conceived and managed a major materials selection system for engineers.

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