BUZZ-Manchester United jumps after it lifts annual core profit forecast

Reuters

06-06

BUZZ-Manchester United jumps after it lifts annual core profit forecast

Updates

** Shares of Premier League club Manchester United MANU.N rise 10.5% to $15.26

** Co lifts its adjusted core profit forecast to between 180 million pounds ($244 million) and 190 million pounds for the year ending June, up from an earlier projection of 145 million to 160 million pounds

** Soccer club is coming off its worst season since their relegation in 1974 after losing to Tottenham Hotspur in the UEFA Europa League last month

** Ticket sales jumped more than 50% to 44.5 million pounds in the three months to March

** CEO Jim Ratcliffe, who holds an about 29% stake, has been carrying out a cost-cutting drive to revive the club's glory and fortunes, including cutting jobs, raising ticket prices and stopping free lunches

** As of last close, MANU stock down 20.4% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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