The club released their second quarterly figures for the current season on Thursday, and the report shows an overall £26.8 million (9.6 per cent) rise in revenues compared to 2016-17.
That comes thanks in large part to United receiving £99.7m in broadcasting revenue over the first half of the campaign, whereas last term they had pocketed £18.1m less from TV and radio rights over the same period.
Analysis showed that the return to the Champions League thanks to their successful Europa League campaign was the main driver behind the increased broadcasting revenue, while the fact two additional United games were shown live on TV over the period also had an effect.
Summing up the club’s financial results, executive vice-chair Ed Woodward said: “Our solid business model has allowed us to invest in the future of the Club with the extension of Jose Mourinho’s contract as manager and the acquisition of Alexis Sanchez. We look forward to the remainder of the season with confidence.”
The results do not include the figures pertaining to Sanchez’s contract, nor the Chilean’s swap-deal arrival which saw Henrikh Mkhitaryan leave for Arsenal, as the cut-off for the period is December 31.
But while it is largely good news for United, accounts show a £21.1m loss over the first six months due to US president Donald Trump’s tax reform.
As a result of the change in US federal corporate income tax rates from 35 per cent to 21 per cent, United had to allow for a non-cash tax accounting write-off of £48.8m. However, the club’s principal debt remains unchanged at £328.6m.
Woodward is due to address investors in a conference call at 13:00GMT, during which he is expected to be grilled on the effect Sanchez’s reported £350,000 a week salary may have on United’s financial figures going forward.
The latest report reveals that United spent £69.6m in the three months between October and December on employee wages, an increase of 9.4 per cent on the previous year thanks in part to Champions League bonuses written into players’ contracts.