Exhibit 99.1

· Q3 REVENUES OF £152.1 MILLION

· Q3 ADJUSTED EBITDA OF £41.2 MILLION

· Q3 OPERATING PROFIT OF £14.2 MILLION

MANCHESTER, England. — 16 May 2019 — Manchester United (NYSE: MANU; the “Company” and the “Group”) — one of the most popular and successful sports teams in the world - today announced financial results for the 2019 fiscal third quarter ended 31 March 2019.

Highlights

· Ole Gunnar Solskjær appointed as permanent manager on a three year contract

· Manchester United Women promoted to Women’s Super League, winning the FA Women’s Championship title

· Announced global partnership with Marriott

· Announced global partnership and licensing agreement with Maui Jim eyewear

Commentary

Ed Woodward, Executive Vice Chairman, commented, “After a turbulent season, everyone at Manchester United is focussed on building towards the success that this great club expects and our fans deserve. Preparations for the new season are underway and the underlying strength of our business will allow us to support the Manager and his team as we look to the future.”

Outlook

For fiscal 2019, Manchester United continues to expect:

· Revenue to be £615m to £630m.

· Adjusted EBITDA to be £175m to £190m.

Key Financials (unaudited)

	Three months ended 31 March				Nine months ended 31 March
£ million (except earnings/(loss) per share)	2019	Restated(1) 2018	Change		2019	Restated(1) 2018		Change
Commercial revenue	66.6	66.6	0.0	%	208.4	212.4		(1.9	)%
Broadcasting revenue	53.8	49.4	8.9	%	200.3	165.4		21.1	%
Matchday revenue	31.7	31.1	1.9	%	87.0	90.4		(3.8	)%
Total revenue	152.1	147.1	3.4	%	495.7	468.2		5.9	%
Adjusted EBITDA(2)	41.2	45.7	(9.9	)%	174.9	166.2		5.2	%
Operating profit	14.2	7.3	94.5	%	72.1	67.4		7.0	%

Profit/(loss) for the period (i.e. net income/(loss))(3)	7.7	6.9	11.6	%	41.1	(3.2	)	—
Basic earnings/(loss) per share (pence)	4.65	4.20	11.0	%	24.96	(1.97	)	—
Adjusted profit for the period (i.e. adjusted net income)(2)	7.8	1.5	420.0	%	61.1	36.7		66.5	%
Adjusted basic earnings per share (pence)(2)	4.72	0.91	418.7	%	37.12	22.38		65.9	%

Net debt(2)/(4)	301.7	301.3	0.1	%	301.7	301.3		0.1	%

(1) Comparative amounts have been restated following the implementation of IFRS 15 — see supplemental note 5 for further details.

(2) Adjusted EBITDA, adjusted profit for the period, adjusted basic earnings per share and net debt are non-IFRS measures. See “Non-IFRS Measures: Definitions and Use” on page 5 and the accompanying Supplemental Notes for the definitions and reconciliations for these non-IFRS measures and the reasons we believe these measures provide useful information to investors regarding the Group’s financial condition and results of operations.

(3) The US federal corporate income tax rate reduced from 35% to 21% following the enactment of US tax reform on 22 December 2017. This necessitated a re-measurement of the then existing US deferred tax position in the period to 31 December 2017. As a result the loss for the nine months ended 31 March 2018 included a non-cash tax accounting write off of £49.0 million.

(4) The gross USD debt principal remains unchanged.

Revenue Analysis

Commercial

Commercial revenue for the quarter was £66.6 million, unchanged from the prior year quarter.

· Sponsorship revenue for the quarter was £41.6 million, unchanged from the prior year quarter;

· Retail, Merchandising, Apparel & Product Licensing revenue for the quarter was £25.0 million, unchanged from the prior year quarter.

Broadcasting

Broadcasting revenue for the quarter was £53.8 million, an increase of £4.4 million, or 8.9%, over the prior year quarter, primarily due to the new UEFA Champions League broadcasting rights agreement and playing one additional PL game.

Matchday

Matchday revenue for the quarter was £31.7 million, an increase of £0.6 million, or 1.9%, over the prior year quarter.

Other Financial Information

Operating expenses

Total operating expenses for the quarter were £144.2 million, an increase of £7.8 million, or 5.7%, over the prior year quarter.

Employee benefit expenses

Employee benefit expenses for the quarter were £84.8 million, an increase of £9.7 million, or 12.9%, over the prior year quarter, primarily due to investment in the first team playing squad.

Other operating expenses

Other operating expenses for the quarter were £26.1 million, a decrease of £0.2 million, or 0.8%, over the prior year quarter.

Depreciation & amortization

Depreciation for the quarter was £2.8 million, an increase of £0.2 million, or 7.7%, over the prior year quarter. Amortization for the quarter was £30.5 million, a decrease of £1.9 million, or 5.9%, over the prior year quarter. The unamortized balance of registrations at 31 March 2019 was £288.0 million.

Profit/(loss) on disposal of intangible assets

Profit on disposal of intangible assets for the quarter was £6.3 million compared to a loss of £3.4 million in the prior year quarter.

Net finance (costs)/income

Net finance costs for the quarter were £3.1 million, compared to net finance income of £1.0 million in the prior year quarter, due to a reduction in unrealized, non-cash foreign exchange gains on unhedged USD borrowings compared to the prior year quarter.

Tax

The tax expense for the quarter was £3.4 million, compared to £1.4 million in the prior year quarter.

Cash flows

Net cash generated from operating activities for the quarter was £22.2 million, an increase of £1.0 million over the prior year quarter.

Net capital expenditure on property, plant and equipment for the quarter was £1.6 million, an increase of £0.6 million over the prior year quarter.

Net capital expenditure on intangible assets for the quarter was £2.0 million, an increase of £3.3 million over the prior year quarter.

Overall cash and cash equivalents (including the effects of exchange rate changes) increased by £3.5 million in the quarter compared to an increase of £6.4 million in the prior year quarter.

Net debt

Net debt as of 31 March 2019 was £301.7 million, an increase of £0.4 million over the year. The gross USD debt principal remains unchanged.

Dividend

A semi-annual dividend of $0.09 per share was paid during the quarter. A further semi-annual dividend of $0.09 per share will be paid on 5 June 2019, to shareholders of record on 26 April 2019. The stock began trading ex-dividend on 25 April 2019.

Conference Call Information

The Company’s conference call to review third quarter fiscal 2019 results will be broadcast live over the internet today, 16 May 2019 at 8:00 a.m. Eastern Time and will be available on Manchester United’s investor relations website at http://ir.manutd.com. Thereafter, a replay of the webcast will be available for thirty days.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth.

Through our 141-year heritage we have won 66 trophies, enabling us to develop what we believe is one of the world’s leading sports brands and a global community of 659 million followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday.

Cautionary Statement

This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous risks and uncertainties relating to the Company’s operations and business environment, all of which are difficult to predict and many are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or similar expressions. The forward-looking statements contained in this press release are based on our current expectations and estimates of future events and trends, which affect or may affect our businesses and operations. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Company’s Registration Statement on Form F-1, as amended (File No. 333-182535) and the Company’s Annual Report on Form 20-F (File No. 001-35627).

Non-IFRS Measures: Definitions and Use

1. Adjusted EBITDA

Adjusted EBITDA is defined as profit/(loss) for the period before depreciation, amortization, profit/(loss) on disposal of intangible assets, exceptional items, net finance (costs)/income, and tax.

Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our asset base (primarily depreciation and amortization), material volatile items (primarily profit on disposal of intangible assets and exceptional items), capital structure (primarily finance costs), and items outside the control of our management (primarily taxes). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported

under IFRS as issued by the IASB. A reconciliation of profit for the period to Adjusted EBITDA is presented in supplemental note 2.

2. Adjusted profit for the period (i.e. adjusted net income)

Adjusted profit for the period is calculated, where appropriate, by adjusting for charges/credits related to exceptional items, foreign exchange gains/losses on unhedged US dollar denominated borrowings, and fair value movements on embedded foreign exchange derivatives, adding/subtracting the actual tax expense/credit for the period, and subtracting/adding the adjusted tax expense/credit for the period (based on a normalized tax rate of 21%; 2018: 28%). The normalized tax rate of 21% is the current US federal corporate income tax rate.

In assessing the comparative performance of the business, in order to get a clearer view of the underlying financial performance of the business, it is useful to strip out the distorting effects of the items referred to above and then to apply a ‘normalized’ tax rate (for both the current and prior periods) of the weighted average US federal corporate income tax rate of 21% (2018: 28%) applicable during the financial year. A reconciliation of profit/(loss) for the period to adjusted profit for the period is presented in supplemental note 3.

3. Adjusted basic and diluted earnings per share

Adjusted basic and diluted earnings per share are calculated by dividing the adjusted profit for the period by the weighted average number of ordinary shares in issue during the period. Adjusted diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares. There is one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the “Equity Plan”). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year. Adjusted basic and diluted earnings per share are presented in supplemental note 3.

4. Net debt

Net debt is calculated as non-current and current borrowings minus cash and cash equivalents.

Key Performance Indicators

	Three months ended				Nine months ended
	31 March				31 March
	2019		Restated(1) 2018		2019		Restated(1) 2018
Commercial % of total revenue	43.8	%	45.3	%	42.0	%	45.4	%
Broadcasting % of total revenue	35.4	%	33.6	%	40.4	%	35.3	%
Matchday % of total revenue	20.8	%	21.1	%	17.6	%	19.3	%
Home Matches Played
PL	5		5		15		16
UEFA competitions	1		1		4		4
Domestic Cups	1		2		2		3
Away Matches Played
PL	6		5		16		15
UEFA competitions	1		1		4		5	(2)
Domestic Cups	3		2		3		4

Other
Employees at period end	950		930		950		930
Employee benefit expenses % of revenue	55.8	%	51.1	%	48.4	%	45.9	%

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

(2) Includes UEFA Super Cup final following UEFA Europa League win in 2016/17.

Phasing of Premier League games	Quarter 1	Quarter 2	Quarter 3	Quarter 4	Total
2018/19 season	7	13	11	7	38
2017/18 season	7	14	10	7	38

Contacts

Manchester United plc

Investor Relations:

Cliff Baty
Chief Financial Officer

+44 161 868 8650

ir@manutd.co.uk

Manchester United plc

Media:

Charlie Brooks

Director of Communications

+44 161 868 8148

charlie.brooks@manutd.co.uk

Sard Verbinnen & Co

Jim Barron / Devin Broda

+ 1 212 687 8080

JBarron@SARDVERB.com

dbroda@SARDVERB.com

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

(unaudited; in £ thousands, except per share and shares outstanding data)

	Three months ended 31 March				Nine months ended 31 March
	2019		Restated(1) 2018		2019		Restated(1) 2018
Revenue	152,068		147,059		495,706		468,139
Operating expenses	(144,181	)	(136,411	)	(448,030	)	(415,699	)
Profit/(loss) on disposal of intangible assets	6,378		(3,446	)	24,457		14,846
Operating profit	14,265		7,202		72,133		67,286
Finance costs	(5,361	)	(5,935	)	(16,877	)	(18,293	)
Finance income	2,213		7,027		2,257		14,239
Net finance (costs)/income	(3,148	)	1,092		(14,620	)	(4,054	)
Profit before tax	11,117		8,294		57,513		63,232
Tax expense (2)	(3,464	)	(1,401	)	(16,444	)	(66,466	)
Profit/(loss) for the period	7,653		6,893		41,069		(3,234	)

Basic earnings/(loss) per share:
Basic earnings/(loss) per share (pence)	4.65		4.20		24.96		(1.97	)
Weighted average number of ordinary shares outstanding (thousands)	164,526		164,195		164,526		164,195
Diluted earnings/(loss) per share:
Diluted earnings/(loss) per share (pence)(3)	4.65		4.19		24.94		(1.97	)
Weighted average number of ordinary shares outstanding (thousands)	164,664		164,591		164,664		164,591

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

(2) The US federal corporate income tax rate reduced from 35% to 21% following the enactment of US tax reform on 22 December 2017. This necessitated a re-measurement of the then existing US deferred tax position in the period to 31 December 2017. As a result the tax expense for the nine months ended 31 March 2018 included a non-cash tax accounting write off of £49.0 million.

(3) For the nine months ended 31 March 2018 potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded.

CONSOLIDATED BALANCE SHEET

(unaudited; in £ thousands)

	31 March 2019	Restated(1) 30 June 2018	Restated(1) 31 March 2018
ASSETS
Non-current assets
Property, plant and equipment	246,396	245,401	245,186
Investment property	13,739	13,836	13,869
Intangible assets	718,551	799,640	752,016
Derivative financial instruments	777	4,807	3,404
Trade and other receivables	9,964	4,724	5,618
Tax receivable	547	547	1,033
Deferred tax asset	57,057	63,332	77,064
	1,047,031	1,132,287	1,098,190
Current assets
Inventories	2,083	1,416	1,398
Derivative financial instruments	511	1,159	2,799
Trade and other receivables	185,499	168,060	117,497
Tax receivable	598	800	258
Cash and cash equivalents	193,855	242,022	161,717
	382,546	413,457	283,669
Total assets	1,429,577	1,545,744	1,381,859

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

CONSOLIDATED BALANCE SHEET (continued)

(unaudited; in £ thousands)

	31 March 2019		Restated(1) 30 June 2018		Restated(1) 31 March 2018
EQUITY AND LIABILITIES
Equity
Share capital	53		53		53
Share premium	68,822		68,822		68,822
Merger reserve	249,030		249,030		249,030
Hedging reserve	(30,848	)	(27,558	)	(12,511	)
Retained earnings	166,751		136,757		181,110
	453,808		427,104		486,504
Non-current liabilities
Derivative financial instruments	21		—		—
Trade and other payables	45,559		104,271		74,998
Borrowings	493,336		486,694		457,011
Deferred revenue	51,079		37,085		32,208
Deferred tax liabilities	33,678		29,134		39,684
	623,673		657,184		603,901
Current liabilities
Derivative financial instruments	130		—		—
Tax liabilities	7,898		3,874		2,166
Trade and other payables	185,733		267,996		208,840
Borrowings	2,197		9,074		5,960
Deferred revenue	156,138		180,512		74,488
	352,096		461,456		291,454
Total equity and liabilities	1,429,577		1,545,744		1,381,859

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

CONSOLIDATED STATEMENT OF CASH FLOWS

(unaudited; in £ thousands)

	Three months ended 31 March				Nine months ended 31 March
	2019		2018		2019		2018
Cash flows from operating activities
Cash generated from operations (see supplemental note 4)	29,803		28,743		112,140		17,254
Interest paid	(7,679	)	(7,210	)	(17,186	)	(16,849	)
Interest received	697		266		2,052		654
Tax paid	(578	)	(620	)	(2,388	)	(6,388	)
Net cash generated from/(used in) operating activities	22,243		21,179		94,618		(5,329	)
Cash flows from investing activities
Payments for property, plant and equipment	(1,559	)	(998	)	(8,877	)	(9,585	)
Proceeds from sale of property, plant and equipment	—		—		—		75
Payments for intangible assets	(14,809	)	(6,812	)	(159,865	)	(135,933	)
Proceeds from sale of intangible assets	12,709		8,203		37,892		40,645
Net cash (used in)/generated from investing activities	(3,659	)	393		(130,850	)	(104,798	)
Cash flows from financing activities
Repayment of borrowings	—		(106	)	(3,750	)	(312	)
Dividends paid	(11,610	)	(10,929	)	(11,610	)	(10,929	)
Net cash used in financing activities	(11,610	)	(11,035	)	(15,360	)	(11,241	)
Net increase/(decrease) in cash and cash equivalents	6,974		10,537		(51,592	)	(121,368	)
Cash and cash equivalents at beginning of period	190,395		155,312		242,022		290,267
Effects of exchange rate changes on cash and cash equivalents	(3,514	)	(4,132	)	3,425		(7,182	)
Cash and cash equivalents at end of period	193,855		161,717		193,855		161,717

SUPPLEMENTAL NOTES

1 General information

Manchester United plc (the “Company”) and its subsidiaries (together the “Group”) is a professional football club together with related and ancillary activities. The Company incorporated under the Companies Law (2011 Revision) of the Cayman Islands, as amended and restated from time to time.

2 Reconciliation of profit/(loss) for the period to Adjusted EBITDA

	Three months ended 31 March				Nine months ended 31 March
	2019 £’000		Restated(1) 2018 £’000		2019 £’000		Restated(1) 2018 £’000
Profit/(loss) for the period	7,653		6,893		41,069		(3,234	)
Adjustments:
Tax expense	3,464		1,401		16,444		66,466
Net finance costs/(income)	3,148		(1,092	)	14,620		4,054
(Profit)/loss on disposal of intangible assets	(6,378	)	3,446		(24,457	)	(14,846	)
Exceptional items	—		—		19,599		—
Amortization	30,434		32,400		99,005		105,789
Depreciation	2,852		2,622		8,631		7,951
Adjusted EBITDA	41,173		45,670		174,911		166,180

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

3 Reconciliation of profit/(loss) for the period to adjusted profit for the period and adjusted basic and diluted earnings per share

	Three months ended 31 March				Nine months ended 31 March
	2019 £’000		Restated(1) 2018 £’000		2019 £’000		Restated(1) 2018 £’000
Profit/(loss) for the period	7,653		6,893		41,069		(3,234	)
Exceptional items	—		—		19,599		—
Foreign exchange (gains)/losses on unhedged US dollar borrowings	(1,430	)	(6,761	)	105		(13,585	)
Fair value movement on embedded foreign exchange derivatives	138		539		82		1,384
Tax expense	3,464		1,401		16,444		66,466
Adjusted profit before tax	9,825		2,072		77,299		51,031
Adjusted tax expense (using a normalized tax rate of 21% (2018: 28%))	(2,063	)	(580	)	(16,233	)	(14,289	)
Adjusted profit for the period (i.e. adjusted net income)	7,762		1,492		61,066		36,742

Adjusted basic earnings per share:
Adjusted basic earnings per share (pence)	4.72		0.91		37.12		22.38
Weighted average number of ordinary shares outstanding (thousands)	164,526		164,195		164,526		164,195
Adjusted diluted earnings per share:
Adjusted diluted earnings per share (pence)(1)	4.71		0.91		37.09		22.32
Weighted average number of ordinary shares outstanding (thousands)	164,664		164,591		164,664		164,591

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

4 Cash generated from operations

	Three months ended 31 March				Nine months ended 31 March
	2019 £’000		Restated(1) 2018 £’000		2019 £’000		Restated(1) 2018 £’000
Profit/(loss) for the period	7,653		6,893		41,069		(3,234	)
Tax expense	3,464		1,401		16,444		66,466
Profit before tax	11,117		8,294		57,513		63,232
Depreciation	2,852		2,622		8,631		7,951
Amortization	30,434		32,400		99,005		105,789
(Profit)/loss on disposal of intangible assets	(6,378	)	3,446		(24,457	)	(14,846	)
Net finance costs/(income)	3,148		(1,092	)	14,620		4,054
Profit on disposal of property, plant and equipment	—		—		—		(75	)
Equity-settled share-based payments	164		617		535		1,820
Foreign exchange (gains)/losses on operating activities	(94	)	200		88		1,200
Reclassified from hedging reserve	1,167		3,652		4,011		11,119
Changes in working capital:
Inventories	527		520		(667	)	239
Trade and other receivables	(66,386	)	5,775		(27,093	)	(19,662	)
Trade and other payables and deferred revenue	53,252		(27,691	)	(20,046	)	(143,567	)
Cash generated from operations	29,803		28,743		112,140		17,254

(1) Comparative amounts have been restated — see supplemental note 5 for further details.

5 Restatement of prior periods following implementation of IFRS 15

The Group adopted IFRS 15 ‘Revenue from contracts with customers’ with effect from 1 July 2018. The implementation of IFRS 15 had an impact on the Group’s financial statements as at 1 July 2018 and consequently prior year amounts have been restated. The table below shows the retrospective impact on revenue for the four quarters ended 30 June 2018. Note 34 to the interim consolidated financial statements for the three and nine months ended 31 March 2019 contains tables and notes which explain how the restatement affected the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated balance sheet, and consolidated statement of cash flows.

Commercial revenue

IFRS 15 focuses on the identification and satisfaction of performance obligations and includes specific guidance on the methods for measuring progress towards complete satisfaction of a performance obligation therefore revenue on certain commercial contracts is recognized earlier under IFRS 15. The effect of the retrospective application is an increase in cumulative revenue recognized over the financial years up to and including the year ended 30 June 2018 including a reduction to the amount of revenue recognized during the financial year ended 30 June 2018 only.

Broadcasting revenue

Following adoption of IFRS 15, certain performance obligations are satisfied over time as each Premier League match (home and away) is played — accordingly revenue is recognized evenly as each Premier League match (home and away) is played. Broadcasting merit awards were previously recognized one share in the first quarter with the remainder being recognized when they were known at the end of each football season. Merit awards represent variable consideration and therefore, following adoption of IFRS 15, are estimated using the most likely amount method based on management’s estimate of where the Club’s finishing position will be at the end of each season. Broadcasting equal share payments were previously recognized evenly as each Premier League home match was played. Note, these changes only affect the amount of broadcasting revenue recognized in each quarter, they do not affect the amount of broadcasting revenue recognized for the financial year as a whole.

Matchday revenue

Adoption of IFRS 15 has no impact on the recognition of matchday revenue.

£’000	Three months ended 30 September 2017		Three months ended 31 December 2017		Three months ended 31 March 2018		Three months ended 30 June 2018		Twelve months ended 30 June 2018
Commercial revenue
Reported	80,544		65,366		66,673		63,516		276,099
Adjustment	(66	)	(66	)	(66	)	(66	)	(264	)
Restated	80,478		65,300		66,607		63,450		275,835
Broadcasting revenue
Reported	38,082		61,628		39,674		64,753		204,137
Adjustment	2,751		13,519		9,656		(25,926	)	—
Restated	40,833		75,147		49,330		38,827		204,137
Matchday revenue
Reported	22,354		36,968		31,122		19,342		109,786
Adjustment	—		—		—		—		—
Restated	22,354		36,968		31,122		19,342		109,786

Total revenue
Reported	140,980		163,962		137,469		147,611		590,022
Adjustment	2,685		13,453		9,590		(25,992	)	(264	)
Restated	143,665		177,415		147,059		121,619		589,758