Manchester United post record operating profits

Manchester United have posted record operating profits for the past financial year, topping £300m revenue for the first time.

The Old Trafford club made a pre-tax profit of £29.7m in the 12 months to June following a loss the previous year of £79.6m on the back of its debt repayment burden.

Revenues rose to £331m - up £45m - with net debt falling to £308m from £376.9m.

The latest results come as the club consider a plan to raise up to £614m by floating on the Singapore Stock Exchange.