February 8, 2018 / 3:21 PM / 5 months ago

BRIEF-Manchester United Reports Qtrly Basic Loss/Share Of 17.71 Pence

Feb 8 (Reuters) - Manchester United Plc:

* MANCHESTER UNITED PLC 2018 SECOND QUARTER RESULTS

* MANCHESTER UNITED PLC QTRLY TOTAL REVENUE GBP 163.9 MILLION VERSUS GBP 157.9 MILLION LAST YEAR

* SAYS QTRLY BASIC LOSS PER SHARE OF 17.71 PENCE

* MANCHESTER UNITED PLC - BROADCASTING REVENUE FOR QUARTER WAS £61.6 MILLION, AN INCREASE OF £9.1 MILLION OVER PRIOR YEAR QUARTER

* SAYS QTRLY ADJUSTED BASIC EARNINGS PER SHARE OF 9.23 PENCE

* MANCHESTER UNITED- MATCHDAY REVENUE FOR QUARTER £36.9 MILLION, DOWN £1.7 MILLION, OR 4.4%,OVER PRIOR YEAR QUARTER, PRIMARILY DUE TO PLAYING 2 FEWER DOMESTIC CUP HOME GAMES

* SAYS BROADCASTING REVENUE FOR QUARTER WAS UP 17.3% PRIMARILY DUE TO PARTICIPATION IN UEFA CHAMPIONS LEAGUE,2 ADDITIONAL PL GAMES BROADCAST LIVE

* SAYS EMPLOYEE BENEFIT EXPENSES IN QUARTER £69.6 MILLION, INCREASE OF £6 MILLION, OR 9.4%, OVER PRIOR YEAR QUARTER

* SAYS SEES FISCAL 2018 REVENUE TO BE £575M TO £585M

* MANCHESTER UNITED- EMPLOYEE BENEFIT EXPENSES IN QUARTER WERE PRIMARILY DUE TO PLAYER SALARY UPLIFTS DUE TO PARTICIPATION IN THE UEFA CHAMPIONS LEAGUE

* SAYS BORROWINGS AT Q2 END WERE GBP 474.75 MILLION VERSUS GBP 497.6 MILLION AS OF JUNE 30, 2017‍​

* SAYS SEES FISCAL 2018 ADJUSTED EBITDA TO BE £175M TO £185M

* SAYS TAX EXPENSE FOR THE QUARTER WAS £53.4 MILLION, COMPARED TO £8.1 MILLION IN THE PRIOR YEAR QUARTER

* SAYS U.S. FEDERAL CORPORATE INCOME TAX RATE HAS REDUCED FROM 35% TO 21% FOLLOWING SUBSTANTIVE ENACTMENT OF U.S. TAX REFORM

* SAYS EMPLOYEE BENEFIT EXPENSES FOR QUARTER UP 9.4% PRIMARILY DUE TO PLAYER SALARY UPLIFTS DUE TO PARTICIPATION IN UEFA CHAMPIONS LEAGUE

* SAYS ‍AS A RESULT OF U.S. TAX ACT, CURRENT QUARTER EXPENSE INCLUDE A NON-CASH TAX ACCOUNTING WRITE OFF OF £48.8 MILLION​ Source text for Eikon: Further company coverage:

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