Manchester United eyes record revenue despite shaky league start

Manchester United (NYSE: MANU - news) is predicting another year of record revenue despite a shaky start to the club's Premier League season.

It forecast revenues up to £630m for the year to June while reporting its financial results for the 2017/18 year, in which it raked in £590m.

That already amounted to the highest revenue achieved by a world club and came despite a slowdown in broadcast and commercial revenues in the final quarter.

It was largely attributed to Jose Mourinho's side being knocked out of the Champions League early last season.

United (Shenzhen: 000925.SZ - news) are currently only seventh in this season's Premier League table.

Despite their domestic struggles, the club won its opening Champions League game of the season 3-0 last week.

Executive vice chairman Ed Woodward said: "Our increased revenue expectation for the year demonstrates our continued strong long-term financial performance which underpins everything we do and allows us to compete for top talent in an increasingly competitive transfer market."

The squad, which includes World Cup winner Paul Pogba and David de Gea, is said to have become a source of frustration for Mourinho following a lack of transfer activity.

Mr Woodward sought to distance himself from reports of a rift with the manager over transfers by publicly supporting him during a call for analysts and investors after the financial results were released.

"Everyone at the club is working tirelessly to add to Manchester United's 66 and Jose's 25 trophies," he said.