Manchester United Ups Profit Forecast Amid Europa League Boost

Manchester United has revised its annual core profit forecast upward, benefiting from a robust Europa League performance that propelled ticket sales and broadcast revenue. The club now expects an adjusted core profit between £180 million and £190 million for the fiscal year ending in June, surpassing its earlier projection.

Despite experiencing a 50% rise in ticket sales to £44.5 million during the three months leading to March, the club faced a disappointing end by losing the Europa League final to Tottenham Hotspur. With their worst Premier League season since 1974, hopes for European competition next season have been dashed, impacting future broadcasting revenue.

CEO Omar Berrada openly acknowledged the season's shortcomings and stressed the necessity for improvement next season. Stakeholder Jim Ratcliffe is implementing cost-reduction measures, including job cuts and ticket price hikes, aimed at reviving the club's fortunes as they prepare for the upcoming fiscal year.

(With inputs from agencies.)