Manchester United lifts earnings forecast after top 3 Premier League finish

May 27 : Manchester United raised annual revenue and core profit forecast for the year to June, helped by a third-place finish in the English Premier League and as fans snapped up merchandise as the team's fortunes improved on the pitch.

Still, United reported a net loss of £11.8 million ($15.86 million) for its fiscal third quarter, wider than a year earlier, weighed by falling sponsorship revenue and weaker ticket sales.

The club's return to the Champions League is expected to boost revenue next fiscal year as it benefits from lucrative broadcast rights and new sponsorship deals. For the latest quarter, sponsorship revenue was down 9.4 per cent.

"We feel very positive about the club's progress this season and the continuing positive impact of our business transformation initiatives," CEO Omar Berrada said in a statement.

($1 = 0.7442 pounds)