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Manchester United PLC MANU reported fourth-quarter FY22 sales growth of 26.1% year-on-year to £118.5 million.
Broadcasting revenue declined 15.5%, Commercial revenue rose 22.4%, and Matchday revenue jumped 830.4%.
The operating loss for the quarter expanded to £(60.7) million. Adjusted EBITDA loss was £(8.4) million versus £(10.5) million last year.
Adjusted basic loss per share for the period narrowed to (12.38) pence versus (20.67) pence last year.
The company held £121.2 million in cash and equivalents as of June 30, 2022. Net cash inflow from operating activities for the year was £96.4 million.
Net debt as of June 30, 2022, was £514.9 million.
Outlook: Manchester United expects FY23 revenue of £580 million – £600 million.
It sees FY23 adjusted EBITDA of £100 million – £110 million.
Price Action: MANU shares are trading lower by 1.78% at $13.24 on the last check Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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