Manchester United reported a preliminary pre-tax profit

The Premier League club has reported a preliminary pre-tax profit of £27.91m for the year ended July 2004, a fall of nearly 30% from last year’s £39.35m profit. Turnover reported £169.08m, a slight fall from 2003 £173m. A £9.3m fall in match-day revenues is due to a reduction in the amount of home games played in the period, with 25 matches played last season compared to 33 the year before. Match-day revenues were partly offset by an increase in TV income, which yielded £62.54m. Total staff costs were £76.9m, represented 45% of revenue. The club reported £1.07m in net interest, derived from its strong cash position – £36.05m on its Balance Sheet. The board is recommending a final basic dividend of 1.4 pence-per share, which would bring the total basic dividend to 2.65 pence per share. It is also the first time that the club disclosed information relating to payments made to players’ agents, with the accounts providing a full list of figures, broken down by transfer in the last two years. The figures showed that total of £5.03m were paid in agents’ fees.

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