Review of Manchester United's financial results for the first half of this season (2023/24), when their pre-tax loss narrowed from £25m to just £6m. #MUFC made a decent £29m operating profit (including player sales), but this was completely wiped out by £35m interest.
#MUFC revenue increased by £72m (23%) from £311m to £383m, which was a club record for the first half of the year, boosted by the return to the Champions League, which drove large increases in both broadcasting and match day.
@SwissRamble The impact of interest ....£35m in the first half... a significant increase over the previous comparative periods. This is partly due to rising interest rates, but largely because the majority of the club’s debt is denominated in USD and unhedged. WHY ISN'T IT HEDGED?
@SwissRamble @ChrisHaymes1 Hello debt, my old friend. Cheers Joel, cheers Avram 🤬