May 16, 2019 / 11:15 AM / 5 days ago

Manchester United affirms financial targets even as wages weigh

May 16 (Reuters) - English Premier League soccer club Manchester United stuck to its forecast for the year to June 30 even as it posted a drop in third-quarter core earnings hurt by a hefty wage bill.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to Mar. 31 came in at 41.2 million pounds ($52.82 million), down from 45.7 million a year earlier, the club said on Thursday.

The 20-time English champions continue to expect revenue of 615-630 million pounds and adjusted EBITDA of 175-190 million pounds for 2018-19.

$1 = 0.7800 pounds Reporting by Shashwat Awasthi and Chris Peters in Bengaluru; editing by Jason Neely

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