Manchester United accounts turn record £100.8m operating profit into loss of £83.6m
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By Nick Harris 8 October 2010 Manchester United made a record operating profit of £100.8m in 2009-10 but today posted overall losses of £83.64m (£79.63m loss on ordinary activities before taxation). The balance sheet is below. The turning of impressive profits into losses that will rattle many United fans can be explained through interest payments on debt placed on the club by the Glazer family, by exceptional (and not exceptional) charges relating to refinancing of debt, by currency fluctuations and by accounting practices.
Manchester United accounts turn record £100.8m operating profit into loss of £83.6m
Manchester United accounts turn record…
Manchester United accounts turn record £100.8m operating profit into loss of £83.6m
By Nick Harris 8 October 2010 Manchester United made a record operating profit of £100.8m in 2009-10 but today posted overall losses of £83.64m (£79.63m loss on ordinary activities before taxation). The balance sheet is below. The turning of impressive profits into losses that will rattle many United fans can be explained through interest payments on debt placed on the club by the Glazer family, by exceptional (and not exceptional) charges relating to refinancing of debt, by currency fluctuations and by accounting practices.