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EDITIONS
Monday, 30 September, 2002, 16:01 GMT 17:01 UK
Man Utd score with profits
Man Utd players celebrate scoring against Charlton
Investors are also celebrating, with a bigger dividend
Manchester United's profits have jumped by nearly half even though its player wages bill has soared.

Football's profit league 2002
Man Utd
32.3m profit
Southampton
3.3m profit
Tottenham Hotspur 0.9m profit
Aston Villa
0.4m loss
Celtic
2.9m loss
Manchester City 13.9m loss
Leeds United 28.2m loss
Rangers
35.3m loss
The club has reported a 48% increase in pre-tax profits to 32.3m ($50.5m), compared with 21.8m last year.

The club said its turnover was also up, thanks to the new Premier League television deal and European Champions League prize money for reaching last season's semi-finals.

And it said it made trading profits of 17.4m by selling players such as Jaap Stam, Andy Cole and Dwight Yorke.

The acquisition of 30m England defender Rio Ferdinand was not in the balance sheet because it came after the end of the financial year.

Old Trafford dynasty

Players' wages accounted for 48% of the group's turnover for the year - up from 39% the previous year - and the wages bill grew 40% to 70m.

Part of that rise was the result of new contracts signed by David Beckham, Roy Keane and manager Sir Alex Ferguson.

The club said it was committed to controlling player wages to about 50% of turnover subject to the club continuing to reach the second phase of the Champions League.

Man Utd home games
Gate receipts
42.1m
Total matchday turnover
56.3m
Average attendance
67,160

Meanwhile, Manchester United chief executive Peter Kenyon has insisted that the Old Trafford dynasty is not coming to an end despite below-par performances in the Premier League and Champions League.

"We are well placed in the Champions League, fourth in the Premiership and the depth in squad terms is very good," he told BBC Radio 5 Live.

Shares climb

The results statement also revealed that, as of 31 July, the club was still owed 17.2m by other clubs for transfer fees, of which 12m was due from Lazio for the Stam deal.

In an indication of the tough times being experienced by Italian clubs, it said this payment was now being re-scheduled.

Manchester United shares finished the day up 5.25p at 105p.

This compared with 145p at the end of 2001 and a March 2000 peak of more than 400p.

In a minor fillip for investors, the company said it proposed a 1p-a-share special dividend, which would increase the total dividend to 3.1p a share from 2p a share last year.

It said it wanted to ensure shareholders benefited directly from success on the pitch and profits from player sales, and would consider more special dividends in the future.

 WATCH/LISTEN
 ON THIS STORY
Man Utd chief executive Peter Kenyon
"The Man Utd dynasty is far from over"
BBC Five Live's Charlie Lambert
"The overall value of the club has gone down"
Click here for all the latest from the My Club section

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See also:

28 Sep 02 | Eng Prem
26 Sep 02 | Business
15 Aug 01 | Business
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