The authoritative Swiss Ramble turns his forensic gaze to the latest accounts of Manchester United. Some highlights from his analysis follow. Despite the reduction, a £41m profit during the pandemic times represents an impressive achievement for Manchester United. As Ed Woodward said, “While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated.” These results might look better than many feared, but it is worth remembering that figures are usually worse in the second half of the year, emphasises the Zurich-based analyst. They are in better shape than most with their many commercial partners. While they will struggle with the financial challenges of COVID-19, Finance Director Cliff Baty said, “We are well positioned to weather the current uncertainty and optimistic for the future.” The main reason for lower revenue was match day, which fell £52m (94%) from £55m to just £3m, while commercial ...