Manchester United expects higher revenue, core earnings for 2019

(Reuters) – English Premier League soccer club Manchester United forecast higher revenue and core earnings for 2019, even as the company reported lower results for the fourth quarter of 2018.

Soccer Football – FA Cup Final – Chelsea vs Manchester United – Wembley Stadium, London, Britain – May 19, 2018 Manchester United fan waves a flag before the match REUTERS/Andrew Yates

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for 2019 are expected to be between 175 million pounds and 190 million pounds, the 20-time English champions said.

Revenue for 2019 is expected to be between 615 million pounds and 630 million pounds, United said.

It reported adjusted EBITDA of 177.1 million pounds ($232.9 million) and revenue of 590 million pounds for 2017-18 on Tuesday.

Reporting by Shashwat Awasthi in Bengaluru; Editing by Keith Weir

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source: reuters.com