Manchester United PLC reported that Retail, Merchandising, Apparel & Product Licensing revenue was £26.8 million in the first quarter ending September 30, an increase of 1.9 percent over the prior-year quarter.
Adidas has been the kit sponsor for Manchester United since 2015, when it replaced Nike.
For the year ended June 30, Retail, Merchandising, Apparel & Product Licensing revenue were £102.1 million, a decrease of £0.7 million, or 0.7 percent, over the prior year.
Overall, Manchester United reported total revenues for the first quarter were £135.4 million, up 0.3 percent. Adjusted EBITDA improved 18.4 percent to £34.8 million.
Net income for the period was £1.1 million against £6.6 million. Adjusted net income came to £3.9 million against £7.0 million, a year-over-year decline of 44.3 percent.
For fiscal 2020, the company continues to expect total revenues to be in a range of £560 to £580 million and total adjusted EBITDA to be in a range of £155 to £165 million. In fiscal 2019, sales were £627.1 million and adjusted EBITDA was £185.8 million.