Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Manchester United PLC    MANU   KYG5784H1065

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Manchester United 2nd-Quarter Profit Off 61% on Higher Operating Expense, Year Earlier Tax Benefit

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2013 | 01:45pm CET
  By Tess Stynes 
 

Manchester United PLC's (>> Manchester United PLC) fiscal second-quarter earnings fell 61% as the British soccer team posted higher operating expenses and the year-earlier period included a tax benefit.

Manchester United last month acquired British Sky Broadcasting Group PLC's (>> British Sky Broadcasting Group plc) one-third minority stake Manchester United Television, giving the sports club complete ownership of the unit.

The famed soccer club is owned by the Glazer family, headed by American businessman Malcolm Glazer. The role of the Glazers, who took on debt to purchase the team for $1.47 billion in 2005, stirred the ire of some fans, who worried the new debt would restrict the team's ability to keep and attract top talent. In an effort to reduce its debt load, Manchester United went public on the New York Stock Exchange in August.

For the quarter ended Dec. 30, Manchester United reported a profit of 16.2 million British pounds ($25.1 million), or 10 pence (16 cents) a share, down from GBP42.1 million, or 27 pence a share, a year earlier. The year-earlier period included a tax credit of GBP22.9 million. Revenue increased 8.7% to GBP110.1 million ($170.7 million).

Analysts polled by Thomson Reuters most recently projected earnings of GBP15.83 on revenue of GBP111 million.

Operating expenses increased 11% as staff costs increased 14% amid new player signings, player wage increases and growth in commercial headcount.

Commercial revenue jumped 29% amid growth in sponsorship deals, which rose 49%.

Matchday revenue, which includes ticket sales, was down 2.8%, mainly because of one less domestic cup home game being played in the period.

Broadcasting revenue rose 4.8%.

The company had gross debt of GBP366.6 million, compared with GBP439 million a year earlier.

BSkyB is 39% owned by News Corp. (NWSA, NWS.AU, NWS). News Corp also owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.

Shares of Manchester United, which affirmed its fiscal year guidance, closed Wednesday at $18.71 and were inactive premarket. The stock is up 21% since the Manchester United Television announcement.

Write to Tess Stynes at tess.stynes@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MANCHESTER UNITED PLC
12:45a MANCHESTER UNITED : Mourinho has nothing to hide
12/05 MANCHESTER CITY’S PEP GUARDIOL : Chelsea loss showed ‘this season is..
12/05 FA CUP THIRD ROUND : Reading’s Jaap Stam faces return to Manchester United
12/05 MANCHESTER UNITED : Bolasie set to miss African Cup because of knee injury
12/05 MANCHESTER UNITED : Man United to begin FA Cup defence against 2nd-tier Reading
12/05 FA CUP THIRD-ROUND DRAW : West Ham v Manchester City, Sutton United v AFC Wimble..
12/05 HTTP : //presswire.com: Carly Paoli's single 'My Christmas Dream Is You' receive..
12/05 MANCHESTER UNITED : Jose Mourinho irritable as Manchester United keep throwing a..
12/05 MANCHESTER UNITED : Plane crashes and mad dogs
12/05 MANCHESTER UNITED : 'Clumsy' Fellaini foul doesn't surprise former team mate Leo..
More news
Sector news : Leisure & Recreation - NEC
11/29 WANDA CINEMA LINE : China's property market has bubble but won't collapse, says ..
11/29 MERLIN ENTERTAINMENTS : forecasts profit growth this year
11/28DJActivision Blizzard Reaches New Pay Deal With CEO
11/24 China's Ctrip expands global reach with $1.74 billion Skyscanner deal
11/09DJTRIPADVISOR : Profit Falls, Revenue Rises
More sector news : Leisure & Recreation - NEC
News from SeekingAlpha
11/28 Manchester United goes ex-dividend today
11/17 MANCHESTER UNITED : Wait Before Leaping In
11/17 Manchester United's (MANU) Q1 2017 Results - Earnings Call Transcript
11/17 Manchester United beats on revenue
11/16 Notable earnings before Thursday?s open
Advertisement
Financials ( GBP)
Sales 2017 538 M
EBIT 2017 34,1 M
Net income 2017 23,4 M
Debt 2017 309 M
Yield 2017 1,30%
P/E ratio 2017 164,55
P/E ratio 2018 80,36
EV / Sales 2017 4,12x
EV / Sales 2018 3,79x
Capitalization 1 908 M
More Financials
Chart MANCHESTER UNITED PLC
Duration : Period :
Manchester United PLC Technical Analysis Chart | MANU | KYG5784H1065 | 4-Traders
Full-screen chart
Technical analysis trends MANCHESTER UNITED...
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 15,2  GBP
Spread / Average Target 32%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Richard Arnold Group Managing Director & Director
Joel Glazer Executive Co-Chairman
Avram A. Glazer Executive Co-Chairman
Cliff Baty Chief Financial Officer
Edward Woodward Executive Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
MANCHESTER UNITED PLC-17.74%2 429
TUI AG-26.75%7 695
MERLIN ENTERTAINMENTS ..-5.14%5 586
ILG INC15.82%2 414
AL TAYYAR TRAVEL GROUP..--.--%2 024
CINEWORLD GROUP PLC-3.11%1 856
More Results