Friday 13 May 2016 12:31 pm

Manchester United stay on course for £500m year after announcing record third quarter results

Manchester United remain on course to become the first Premier League club to generate £500m this year after announcing record revenue and earnings in the third quarter.

Revenue for the three months ended 31 March jumped 29.9 per cent to £123.4m, meaning the club has already earned £348.7m for the year.

The club finished the quarter with an £11.7m profit compared to a £7.1m loss at the same time last year, while earnings before interest, tax, depreciation and amortisation grew by a massive 76.8 per cent from £25.4m to £44.9m.

United's strength in tying up lucrative sponsorships was demonstrated in the fact it has already generated £203.1m in commercial revenue for the year — more than the entirety of the 2013/14 season.

Read more: Manchester United must pay £5m to sack Louis van Gaal at the end of the season

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New sponsorships with Gulf Oil International, 20th Century Fox, Chinese digital media platform Sina Sports and an Indonesian isotonic drinks partner were described as "highlights" of the quarter.

Executive vice-chairman Ed Woodward also heralded the club's blooding of young talent into the first team, but did not mention under-pressure manager Louis Van Gaal.

"As we reflect on our season, we are delighted by the emergence of yet another crop of exciting young players that demonstrate once again our terrific track record of youth development," said Woodward.

"We are looking forward to the FA Cup final on May 21 nad hopefully winning this special trophy for a record equalling 12 times."