Manchester United have turned in a record set of interim results with pre tax profit for the six months to January 31st rising by 42 per cent to £17.3 million sterling.
Operating profit, after stripping out exceptionals costs and transfer fees, has increased to £21.4 million from £18.6 million last year.
The results overturn analysts' predictions, which were for the club's profits to reach a plateau after its years of success.
The company's performance was boosted by a 13-year, £303 million alliance with Nike.
Turnover increased by 13 per cent to £72 million, from £64 million last time, with a record profit - before the cost of players - of £21.4 million. But income from television was less spectacular, showing a decrease of £500,000 to £15.1 millon.
Professor Sir Roland Smith, chairman of Manchester United, says "The board is optimistic about the group's future prospects as we approach the final stages of the season.
"Manchester United is again well placed to retain the Premier League Championship and has reached the quarter final stage of the European Champions Cup."
United's increased capacity at Old Trafford - 67,700 this season against 55,300 last year - meant gate receipts brought in £28.4 million, against £21.4 million last year.
Sponsorship income, boosted by the agreement with Vodafone and Platinum Sponsors, increased by 26 per cent to £11.1 million from £8.8 million. But there was a £1.3 million downturn in the company's traditionally strong merchandising, due to lower wholesale figures throughout Britain.
PA