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Manchester United Has First-Quarter Profit on Commercial Revenue

Manchester United, the 19-time English soccer champion, had a profit in its fiscal first quarter as it increased commercial revenue by 24 percent.

Net income was 20.5 million pounds ($33 million) in the three months ended Sept. 30, compared with a net loss of 5 million pounds in the year-earlier period, the team said today in a Businesswire statement.

Commercial revenue rose to 43 million pounds from 34.6 million pounds. Gross debt declined to 359.7 million pounds from 433.2 million pounds.

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