Red Devils Man Utd net 12% income rise

Football club Manchester United has trimmed its debt to £439 million, as lucrative sponsorship and media deals helped the side increase its revenues and profit.

Over the six months to 31 December the giant city side saw its income rise nearly 12% to £175 million.  Its underlying pre-tax earnings were up 7.7% versus the same period in 2010, rising from £59.6 million to £64.2 million.

Debt at the Alex Ferguson-managed club also came down over the period reviewed in Manchester United's latest interim update.  A year previously, Manchester United's outstanding commitments stood at £508 million, but over the six months ended December 2011 the club brought this figure down by £69 million.