By Patrick Thomas
Manchester United PLC /zigman2/quotes/205140601/composite MANU -0.69% said its profit fell for its first quarter, but beat analysts estimates as revenue rose slightly from a year earlier.
The parent of the Manchester, England, soccer club reported a profit of 1.13 million pounds ($1.46 million), or GBP0.68 a share, compared with GBP6.65 million, or GBP4.04 a share, a year ago.
The company reported adjusted earnings of GBP2.35 a share. Analysts polled by FactSet were expecting a loss of GBP3.42 a share, or a loss of GBP6.00 a share on an adjusted basis.
Revenue rose slightly to GBP135.4 million from GBP135 million a year earlier. Analysts had expected GBP131.8 million of revenue in the quarter.
The company reiterated its revenue forecast of between GBP560 and GBP580 for its current fiscal year.
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