Friday 15 May 2015 09:22, UK
Louis van Gaal's first season in charge of Manchester United has earned praise from executive vice-chairman Ed Woodward after the club announced positive third quarter figures.
United are close to a return to the Champions League, at least via the play-offs, which was the target given to Van Gaal when he took over at Old Trafford last summer.
Woodward made his comments as United announced a rise of 11.7 per cent in commercial revenues (up to £47.8m) and a raise in projected EBITDA, a figure related to operating profits that is the measure some companies use for their overall operating performance.
Woodward said: "As the season approaches its conclusion, we are pleased with the team's performance in Louis van Gaal's first season as manager and are well positioned to achieve a top four finish in the Premier League and to return to European football next year.
"As we look forward to next season, on the playing side we expect to be challenging for trophies in all competitions and on the commercial side we are excited by the numerous opportunities for further growth, including the first year of our 10-year partnership with adidas.
"We remain confident about the future of our business. Our commercial revenues were up year over year and we are raising EBITDA guidance for fiscal year 2015 from £90-£95m to £103-£110m."
