Manchester United Q2 Adj. EPS Falls 78%

(RTTNews) - Manchester United Plc. (MANU) Thursday announced a second quarter adjusted net income of 4.4 million pound down 77.8 percent down from 19.8 million pounds a year ago. Adjusted earnings per share fell 78 percent to 2.66 pence from 12.08 pence last year. The company recorded no profit for the quarter compared to 19 million pounds last year. Adjusted EBITDA was 42.4 million, down 16.9 percent from 51 million pounds last year.

Total revenue for the quarter declined to 10.57 million pounds from 122.9 million pounds in the previous year. Commercial revenue increased to 46.4 million pounds, up 9.7 percent from prior year quarter.

The company said, notwithstanding no European football this season, its Revenues and EBITDA remain strong.

Looking ahead to 2015, the company expects Adjusted EBITDA of 90 million to 95 million pounds and revenue of 385 million to 395 million pounds.