Manchester United may be struggling on the field but the Premier League champions have announced a record quarter of financial figures.
David Moyes has endured a difficult start to his Old Trafford tenure as United sit seventh in the Premier League and face a battle to qualify for the UEFA Champions League.
Howver, United have revealed revenue for the second half of 2013 totalled £122.9 million, compared to £110.1m the year before, while half-year turnover increased from 186.6m to £221.4m.
The champions amassed commercial income of £42.3 million, up 18.8 per cent for the second quarter - which ended on December 31 last year - and 30 per cent for the financial year to date.
Broadcasting revenues increased by 18.7 per cent for the quarter following new domestic and international television rights agreements.
United also benefitted from six new sponsorship deals in the quarter, including agreements with Banif Bank and consumer goods giant Unilever.
The club's executive vice chairman Ed Woodward said the results were an indication of the club's continuing financial strength, despite the below-par performances on the field.
"We once again achieved a record revenue quarter," he said.
"With strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the team manager down has acknowledged is disappointing.
"We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business."
United's gross debt fell from £366.6m to £356.6m in 2012.and they stated that revuenue for the financial year is still on course to be between £420m-£430m1 comment