Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector newsTweets 

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
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
05:30p MANCHESTER UNITED : Harry Kane leads Tottenham to FA Cup quarterfinals
04:31p BLACKBURN V MANCHESTER UNITED : FA Cup fifth round – live!
03:43p MANCHESTER UNITED : revive interest in Real Madrid midfielder Toni Kroos
10:45a MANCHESTER UNITED : The lesser-spotted Scottish manager
02/18 MANCHESTER UNITED : English FA Cup results – collated
02/18 FA CUP : Manchester City, lacking the usual invention, held by ‘amazing&rs..
02/18 MANCHESTER UNITED : Arsenal’s ‘Wenger out’ crowd should look a..
02/18 MANCHESTER UNITED : Ex-Manchester United star Dwight Yorke denied entry to US
02/18 MANCHESTER UNITED : City put future on hold as they face present danger of Monac..
02/18 MANCHESTER UNITED : Blackburn approach visit of Manchester United under cloud of..
More news
Sector news : Leisure & Recreation - NEC
02/17 China’s private placement boom on borrowed time
02/14 TUI Group to target Brazil and China in global expansion
02/10 U.S. SEC charges Chinese exec with DreamWorks insider trading
02/09 EXPEDIA : revenue rises more than expected as bookings increase
02/07DJBig Employers Go It Alone in Push to Help Refugees
More sector news : Leisure & Recreation - NEC
News from SeekingAlpha
02/11 MANCHESTER UNITED : Good Quarter, Possible Upside Later In 2017
02/09 Manchester United's (MANU) Q2 2017 Results - Earnings Call Transcript
02/09 Manchester United reports FQ2 results
02/08 Notable earnings before Thursday?s open
01/12 Manchester United and Uber announce global partnership
Financials ( GBP)
Sales 2017 542 M
EBIT 2017 50,1 M
Net income 2017 16,0 M
Debt 2017 283 M
Yield 2017 1,08%
P/E ratio 2017 133,65
P/E ratio 2018 109,11
EV / Sales 2017 4,66x
EV / Sales 2018 4,26x
Capitalization 2 240 M
More Financials
Duration : Period :
Manchester United PLC Technical Analysis Chart | MANU | KYG5784H1065 | 4-Traders
Full-screen chart
Technical analysis trends MANCHESTER UNITED...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 15,1  GBP
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
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$)
TUI AG-1.35%8 183
ILG INC4.46%2 534
More Results