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Tuesday, 22 October 2019

Manchester United affirms financial targets even as wages weigh

Reuters , Thursday 16 May 2019
stadium
File Photo: General view inside the stadium before the match Action (Photo: Reuters)
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English Premier League soccer club Manchester United stuck to its forecast for the year to June 30 even as it posted a drop in third-quarter core earnings hurt by a hefty wage bill.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to Mar. 31 came in at 41.2 million pounds ($52.82 million), down from 45.7 million a year earlier, the club said on Thursday.

The 20-time English champions continue to expect revenue of 615-630 million pounds and adjusted EBITDA of 175-190 million pounds for 2018-19.

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