Manchester United posts smaller first-quarter losses

Manchester United on Tuesday reported a smaller adjusted net loss for the first quarter of fiscal 2025, helped by cost cuts and favourable exchange rates, and maintained their fiscal 2025 core profit and revenue forecasts.

Adjusted net loss was 349,000 pounds ($439,007.10) for the three months ended Sept. 30, compared with a loss of 8.6 million pounds a year earlier.

"Our renovation of the Carrington Training Centre is progressing well, while the Old Trafford Regeneration Task Force continues its work," CEO Omar Berrada said in a statement.

The Old Trafford side, which named Portuguese Ruben Amorim as their new head coach earlier this month, said their cost and headcount reductions remain on track.

Revenue for the three months fell 9 per cent to 143.1 million pounds.

($1 = 0.7950 pounds)