The Old Trafford outfit have released their financial figures for last year, with the club's early exit from the Champions League negatively affecting broadcasting income
Overall revenues slumped by 3.3 per cent to £320 million, as the Red Devils' failure to go beyond the group stages of Europe's premier competition caused an 11.3% drop in broadcast income.
However, there were plenty of reasons for encouragement for the club's owners from the figures announced on Tuesday.
Net profits rose 79.2% to reach £23.3m, while earnings from commercial operations hit a record-breaking £117.6m - a rise of 13.7%.
The Old Trafford outfit's borrowings - a source of frustration and anger for many supporters, often directed at owners the Glazer family - have fallen from £459m to £437m
Despite the mixed results, United's executive vice chairman, Ed Woodward, said: "Fiscal 2012 was the best year ever for Manchester United's commercial business."