Manchester United have posted yet another significant rise in commercial revenue - although executive vice-chairman Ed Woodward has confirmed this season's on-field performance has been disappointing as the club announced their second quarter results on Wednesday.

United have confirmed commercial income of £42.3million, up 18.8% for the quarter and 30% for the year so far.

In the quarter to 31 December, United activated six new sponsorship deals, with the prospect of more to come, even though Woodward concedes David Moyes' first season in charge has not gone to plan.

"We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the team manager down has acknowledged is disappointing," said Woodward.

"We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth - all of which bodes well for the long-term stability and financial strength of our business.

"We are also very pleased to have added a world class player in Juan Mata to our squad, who has already made a positive impact."

With that in mind, Woodward has warned that the usual summer recruitment policy, which he estimated to average out at around three players coming in each summer and other three going out, may rise significantly.

"We are focused on strengthening the squad," said Woodward.

"We will sell some. We wouldn't look to churn a huge number but equally, we are not afraid of moving in the market in a way we haven't seen in previous years.

"It has tended to be three sales and three purchases but it is possible we will do more than that."

Woodward said the club record £37.1million arrival of Juan Mata had already had a positive impact, with United's official Twitter feed gaining an additional 280,000 followers in the week following his arrival from Chelsea last month.

Significantly, Woodward said there was currently "no impact on the wider business from current on-pitch performance".

And, whilst going an extended amount of time without competing at the highest level was not a thought he was considering,

Woodward feels it would take some considerable time before United as a club saw a reduction in their huge worldwide following.

"It has taken a long time to build our huge fan base," said Woodward.

"That will not go away for a long time.

"Some of our competitors have not won league for a long time and they still sell a lot of shirts - one of them is just down the road."