Revenues at record high, debt down in Man Utd financial statement

The club have released their figures for the second quarter of the fiscal year and have returned largely positive results, despite their poor form on the pitch
Manchester United have declared significant increases in revenue as part of their report to shareholders at the halfway point of the fiscal year, with the club's overall debt being reduced by over £20 million.

Overall revenue came in at a record £133.8m, with commercial revenue having increased to £66.1m for the quarter up to December 2015. That figure shows a climb of 42.5 per cent on the return of £46.4m for the same period in 2014. Much of their commercial gains come from the lucrative new kit deal with Adidas which came into effect for the beginning of the 2015-16 season.

Broadcasting revenue is also up, with a 31.3% rise to £37.3m for the quarter. Much of this return is thought to be down to United's return to the Champions League and the TV riches incolved in participation in the prestigious competition.

The figures have helped the club to reduce its net debt, with the current figure at £322.1m against last year's £343.4m.

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Executive vice-chairman Ed Woodward is due to speak to investors at 1pm GMT on Thursday to discuss the returns and field calls on the club's current financial situation and future strategies.

The club's stock has fallen dramatically in recent months, with the share price on the New York Stock Exchange moving from $18.99 in Novermber 2015 to less than $14 earlier this week, which is below the initial flotation price.

Fortunes on the field have also slumped over the same period, leading to extensive speculation about the future of manager Louis van Gaal and the potential appointment of ex-Chelsea boss Jose Mourinho.