Manchester United returns to profit in second quarter

Manchester United said on Thursday (Mar 30) the club returned to a net profit in the second quarter on the back of higher commercial revenue and lower wages.

Net profit came in at 6.3 million pounds (US$7.78 million) in the quarter, compared with a loss of 1.4 million pounds a year earlier.

Manchester United's American owners, the Glazer family, launched a formal sale process late last year and have received several bids, including from Sheikh Jassim Bin Hamad Al Thani, the son of Qatar's former prime minister, British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, and Finnish businessman Thomas Zilliacus.

The Old Trafford club did not provide any details about the sale on Thursday.