• Club also show 52.2% increase in sponsorship revenue • United debt stands at £367.6m, down 15.9%

This article is more than 7 years old

This article is more than 7 years old

Manchester United posted a record third-quarter turnover of £91.7m in figures released to the New York stock exchange on Thursday.

United also outlined an increase of 52.2% in sponsorship revenue and have adjusted expectations of overall annual income to £360m.

The executive vice-chairman Ed Woodward said: "Each of our three primary sectors – commercial, broadcasting and matchday – delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA [earnings before interest, taxes, depreciation and amortisation]."

United's powerful commercial arm made a huge contribution to the results. A rise of 31.9% on the corresponding three months last year means overall commercial income has gone up by 27.9% to £114.5m over the full nine-month period.

Gross debt stands at £367.6m, which while still a vast sum, represents a decrease of 15.9 % since 30 June last year.

However, total operating expenses for the third quarter increased 18.6% year-on-year to £79m.

Wages have also risen 25.1% to £44.9m due to the impact of new signings, including Robin van Persie and Shinji Kagawa, renegotiated contracts and the growth of United's commercial team, which also has a base in Hong Kong.