Saturday December 03, 2016
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PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Manchester United: Poor Full Year Numbers -Sell Down To $7

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- Tom Winnifrith

Fourth quarter and full year results out from Manchester United (MANU) on 18th September were marginally below forecast – to miss estimates just a few weeks after your IPO is pretty poor form. Talking of pretty poor form, Manchester United are currently 2nd in the English Premier League but have looked unconvincing against some weak sides so far. At $12.58 the shares are already well down on the $14 IPO price and also on the $13.35 price at which I explained in detail why this was a sell on 27th August. But there is worse to come: my target remains $7.

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