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,
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
