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Dow Jones Newswires: Manchester United loss narrows as attendance increases – Vested Daily

Dow Jones Newswires: Manchester United loss narrows as attendance increases

November 17, 2021

Manchester United PLC on Tuesday posted a narrower loss year over year in its fiscal first quarter as easing Covid-19 restrictions allowed more fans to attend the team’s games.

The British soccer team
MANU,
-0.75%
posted a loss of 15.5 million British pounds, or about $20.8 million, in the three months ended Sept. 30. A year earlier, the loss was GBP30.3 million.

The per-share loss narrowed to 9.53 pence, from 18.9 pence a year ago. The company’s adjusted net loss was 12.5 pence a share.

Revenue rose to GBP126.5 million, from GBP109 million 12 months ago.

As the team’s stadium in Manchester reopened to crowds, matchday revenue rose to GBP18.8 million from GBP1.7 million a year ago. Commercial revenue grew 7.9% on higher retail and merchandising results, while broadcasting revenue declined 9%.

Write to Matt Grossman at matt.grossman@wsj.com

This post was originally published on Market Watch