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Man. United Third-Quarter Profit Declines on Matchday Revenue

May 17 (Bloomberg) -- Manchester United’s third-quarter profit fell 8.5 percent as the Premier League soccer club got less in matchday and media revenue.

Earnings before interest, taxes, depreciation, and amortization declined to 20.4 million pounds ($32.4 million) in the three months ended March 31, compared with EBITDA of 22.3 million pounds in the year-earlier period, MU Finance Plc said today in a preliminary results statement.

The record 19-time English champion finished second this season, behind Manchester City on goal difference. Total sales in the quarter fell 5.9 percent to 70.8 million pounds. Commercial revenue rose 15 percent as the club benefited from sponsorships.

United reduced debt by 61.2 million pounds to 423.3 million pounds in the quarter, leaving it with 25.6 million pounds in cash and equivalents at the end of the period.

The team now owns 92.3 million pounds of its senior secured notes.

To contact the reporter on this story: Christopher Elser in London at celser@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

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