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United expects strong financial finish

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Manchester United has lifted revenue and profit guidance for the year.   Reporting its latest quarterly results, it said that it expected 'a strong finish to 2016-17 both on and off the pitch.'  It announced projected revenues of £560m-£570m for the year, up from £530m-£540m.

United fell into an operating loss of £4.1m in the three months to the end of March from a profit of £23.2m in the same period last year.  Net income also fell into the red at a loss of £3.8m from a gain of £13.7m in 2016.

Broadcasting revenues climbed 12.9 per cent to £31.4m but earnings from matches slipped 1.3 per cent to £29.3m.  Sponsorship revenues rose £800,000.

Net debt was £366.6m up by £12m, reflecting the effect of the weak pound against the dollar.