The Premier League champions’ third-quarter turnover of £91.7 million was released to the New York Stock Exchange on Thursday, but gross debt still stands at £367.6mManchester United posted a record £91.7 million turnover for the club's third quarter.
Sponsorship revenue for the Red Devils has played a major factor in the results with a 52.2 per cent increase, along with a 27.9% rise of commercial income over the full nine-month period.
Other benefactors are the broadcast sector, which shows a 21.7% rise, and the match day sector which has risen 34% on the corresponding three months last year.
|PREMIER LEAGUE LATEST
|16/1||Chelsea are 16/1 with William Hill to beat Man Utd 2-0
For all the increases in revenue, there has been increases in expenses. Total operating expenses increased 18.6% for the third-quarter and wages rose 25.1% to £44.9m, mainly due to new signings Robin van Persie and Shinji Kagawa.
However, the club have started to take action in reducing the wage bill by offering Wayne Rooney a new four-year deal with a lower basic wage, exclusively revealed by Goal.com.
And vice-chairman Woodward doesn't expect many signings at Old Trafford in the summer, despite Sir Alex Ferguson's claims he had been thinking of re-building his squad.
"I wouldn't expect there to be a major retooling of the squad," said Woodward.
"There is incredible depth. We could put two first teams out with 11 internationals in each.
"It has been a phenomenal season. We are a long way ahead in the Premier League and whilst I wouldn't describe the way we got knocked out of the Champions League as luck things could have gone differently in that game.
"We have a young squad and each of those are a year older. We are very comfortable with make-up of team and squad."
The club expects the overall annual income to be £360m, and although the gross debt still stands at £367.6m, it represents a 15.9 per cent decrease on June 30 2012.