Benzinga | Nov 17, 2021 10:17AM EST

Manchester United Clocks 16% Revenue Growth In Q1

* Manchester United PLC (NYSE:MANU) reported first-quarter FY22 sales growth of 16% year-on-year, to ?126.5 million.

* Broadcasting revenue declined 9%, while Commercial revenue rose 7.9%, and the Matchday revenue jumped 1005.9%.

* The operating loss for the quarter narrowed to ?(10.2) million. Adjusted EBITDA decreased 46.2% to ?11.2 million.

* Adjusted basic loss per share for the period narrowed to (7.67) pence versus (15.12) pence last year.

* The company held ?98.7 million in cash and equivalents as of September 30, 2021. Net cash inflow from operating activities for the quarter was ?63.6 million.

* The net debt of the company as of September 30, 2021, was ?439.7 million.

* Price Action: MANU shares are trading higher by 1.38% at $16.12 on the last check Wednesday.