Manchester United's net profits soared by nearly 80% in the last financial year.
The increase is despite a big drop in total revenue over the final quarter because of the team's group-stage elimination from the Champions League.
Figures showed the club's total income fell for the year ending June 30, 2012, by 3.3% to £320.3m, after a 25.4% decrease in the last three months.
The accounts are the first accounts to be released, since the English club floated in New York last month,
However, United's net income was £23m compared to £13m last year, an increase of 79.2%.
Commercial revenues grew 13.7% to a record £117.6m thanks to a new kit sponsor and new media and mobile deals.
