Nov. 18, 2019, 8:44 a.m. EST

Manchester United profit falls but tops estimates

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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.

Write to Patrick Thomas at patrick.thomas@wsj.com

/zigman2/quotes/205140601/composite
US : U.S.: NYSE
$ 15.02
-0.10 -0.69%
Volume: 181,481
April 9, 2020 2:33p
P/E Ratio
88.88
Dividend Yield
1.20%
Market Cap
$2.49 billion
Rev. per Employee
N/A
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