Manchester United’s first-quarter profits rise to £13m after 450 redundancies
Operating profit up after £7m loss a year earlier
United’s revenue down from £143.1m to £140.3m
Manchester United’s operating profit rose to £13m in the financial year’s first quarter compared with an equivalent £7m loss 12 months earlier, with the chief executive, Omar Berrada, stating this was down to “the difficult decisions made in the past year” by Sir Jim Ratcliffe.
Since Ratcliffe became the largest minority owner in February 2024, his budgetary adjustments have included making about 450 redundancies, which will take the head count to about 800. The Ineos chair has also ended Sir Alex Ferguson’s ambassadorial role, saving about £2m a-year, and cut free lunches for United employees. Continue reading...
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