Manchester United's transformation plan delivers second-quarter profit despite revenue drop

Reuters02-25

Feb 25 (Reuters) - Manchester United MANU.N said on Wednesday it turned a profit in the second quarter as its cost-cutting measures began to bear fruit, though lower sponsorship revenue and ticket sales after missing out on European competitions reined in earnings.

United reported a net profit of 4.2 million pounds ($5.67 million) for the quarter ended December 31, compared with a loss of 27.7 million pounds a year earlier.

($1 = 0.7407 pounds)

(Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru)

((Shashwat.Awasthi@tr.com))

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