Manchester Utd swings to profit despite revenues fall, due to lower wages and pre-season tour costs
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Manchester United Plc reported a loss-making quarter with an 8.9% drop in revenue due to fewer games, but maintained its full-year guidance. Despite the revenue fall, the company swung to profit due to lower wages and pre-season tour costs.
November 26, 2024 | 5:00 pm
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Manchester United Plc reported a loss-making quarter with an 8.9% drop in revenue due to fewer games, but maintained its full-year guidance. Despite the revenue fall, the company swung to profit due to lower wages and pre-season tour costs.
The 1.7% drop in MANU shares reflects investor concerns over the 8.9% revenue decline, despite the company swinging to profit due to cost reductions. The unchanged full-year guidance suggests stability, but the immediate market reaction is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100