Manchester United have announced an increase in profits of more than £13million sterling for the six months to January 31st 2002. The Old Trafford club made £30.908million in the six months before tax, to almost double their profit margin. Television income increased by a massive 60% to £24.2million as United's turnover rose to £81.8million. The increase in TV revenue comes as a result of the improved deal negotiated by the Premier League with Sky and ITV in the summer.
United made a profit on player trading of £16.3million, mainly due to Jaap Stam's £16.5million move to Lazio and Andy Cole's £8million switch to Blackburn. Gate receipts also rocketed with £31.6million coming through the Old Trafford turnstiles.
United's reputation as a leader in terms of merchandising did suffer, however, with a fall of almost £4million. But, the arrivals of world-class players in the shape of Juan Sebastian Veron and Ruud van Nistelrooy in the summer, as well as new contracts for top stars, saw wages increase by £9.5million.
Filed by Johnny Proby
