Man United posts 39% rise in first-quarter revenue

English soccer club Manchester United posted a 39 percent rise in first-quarter revenue due to its participation in the lucrative Champions League tournament this season which boosted broadcast and matchday income.

United, currently fourth in the English Premier League, failed to qualify for last season’s Champions League, Europe’s top club competition, but are in a much stronger position this season and look set to progress out of their group to the knockout stages.

The club, owned by the American Glazer family, said total revenue rose to 123.6 million pounds ($187.60 million) in the three months to Sept. 30, from 88.7 million pounds a year earlier.

The company’s adjusted core earnings almost doubled to 41.6 million pounds.

United reiterated expectations for higher full-year adjusted core earnings of 165 million to 175 million pounds, up from 119.9 million pounds last year.

The club’s global appeal, which it says stretches to 659 million followers, continued to prove lucrative, with four sponsorship deals signed in the quarter.

United’s commercial arm has continued to strike deals around the world. Commercial revenue rose 25.4 per cent to 71.2 million pounds and now make up about 60 percent of total income.

First quarter results were also boosted by its new kit deal with Adidas, and the fact the kit is selling well.