#kieran open 001. | Explore Tumblr posts and blogs

kierxn-rush · 7 years ago

Text

task 001;

« ° B A S I C S ;

name ? kieran alexander rush

nickname ? kie mostly, people aren’t that creative when it comes to my name

when’s your birthday ? 27th of September! I look forward to all the thoughtful gifts you guys are going to get me.

birth place ? los angeles

age ? 19

sexuality ? bisexual

preferred pronouns ? he/him

which grade are you in ? freshman

is your current hair colour your natural hair color ? if not, what is your natural hair colour ? It’s natural but i’ve dyed it before and I could easily be swayed to do it again

eye colour ? blue

height ? 6'1

what are you complimented on most ( physically & persona-wise ) ? physically, probably my eyes. persona-wise? probably that i’m just quite easy going.

do you have any tattoos or piercings ? i’ve pierced my own ear but i forget to wear anything in it a lot, and i let someone give me a really really bad stick-and-poke smiley face on my lower ankle when i was drunk.

if not, would you like one/some ? i’d like to get an actual tattoo one day but i don’t know what of

what do you do for fun ? drink, party and listen to music

what’s your preferred clothing style ? i’ll wear anything that’s clean to be honest

left handed or right handed ? right

when free, people will most likely find you … either in the frat house or in the theatre rehearsing

« ° P E R S O N A ;

how would you describe yourself in five words ? fun, impulsive, amazing, fantastic and humble

are you a flirtatious person ? yes

do consider yourself unique ? yeah

are you talkative or rather shy ? talkative as hell

biggest dream ? hollywood actor, massive mansion, nice car, lots of cute dogs

are you good at keeping secrets ? not at all but please tell me yours

are you happy ? very

do you consider yourself book-smart or street-smart ? more street-smart than book-smart

main character trait ? impulsive

worst habit ? smoking when i drink

biggest pet peeve ? loud chewers, if you chew with your mouth open i’ll scream

if your life would have a title song, what would it be ? ‘where did the party go’ by fall out boy because i love those 2013 bops

who do your friends compare you to ? i’ve gotten jay gatsby before, but i don’t know if they meant i was just as attractive as leonardo dicaprio or...

life motto ? “damned if you do, bored if you don’t”

« ° L O V E ;

are you in love ? not even a little

do you have a crush ? everyone here is hot so is it fair if i say i’ve got a crush on everyone?

celebrity crush ? too many to list

do you believe in love at first sight ? nah, i don’t think you can know a person from one meeting

thoughts about marriage ? it’s real neat but i couldn’t imagine being married before i was like 40 or something

what does your ideal partner look like ( inside and out ) ? inside they have to be fun, be able to keep up with me and kind. outside i prefer people who are shorter than me but other than that i don’t really care

would you consider yourself a flirt ? a little bit

cuddling or making out ? making out

when i was … 16 i had my first kiss and it was …gross

make out song ? i dunno,l i usually just hit shuffle so it’s either super emo songs or super energetic ones.

turn ons/offs ? turn offs are spitting and burping, turn ons are humour and taking control

best love song ever ? see: make out songs

dumper or the dumped one ? dumper

ever experienced heartbreak ? nah, not yet

« ° T H I S or T H A T ;

tea or coffee ? coffee

frozen yoghurt or ice cream ? ice cream - i’m not a sadist

chocolat or vanilla ? chocolate

shower or bath ? shower

movies or books ? books but only good ones

comedy or adventure movie ? comedy

day or night ? night

black&white or color ? colour

chinese or italian ? chinese

hugs or kisses ? kisses

spring or fall ? fall

tattoos or piercings ? tattoos

money or fame ? with fame comes money so, fame

romantic cuddles or hot sex ? hot sex

fair or theme park ? theme park

love or lust ? lust

« ° F A V O R I T E S ;

song lyrics ? i cant think of any specific ones, but i prefer meaningful lyrics to generic pop songs

song ? am i pretty? by the maine is on repeat at the minute, but it changes every day

quote ? re: life motto

actor ? leonardo dicaprio

actress ? emma stone

movie ? sweeney todd: the demon barber of fleet street is my all time favourite

book ? the great gatsby or the perks of being a wallflower are both amazing

memory ? there was a time me and my friends all went to this waterpark near where i lived and it was wholesome

joke ? what do you get when you cross a joke with a rhetorical question?

guilty pleasure ? all my pleasures aren’t guilty

« ° A F E W S I T U A T I O N S ;

how would your character react if…

if they walk into the shower and see a huge spider sitting right in the middle of it ? i’d walk out of the bathroom and get someone to get rid of it for me, i don’t go near things with more than four legs

they found out they won the lottery ? probably pass out and then throw the biggest party this college has ever seen

if they find a someone’s wallet on the floor which holds lots of cash ? turn it in after contemplating taking it. i’m a good person i swear.

they hear a knock on their door and when they say “enter” their ex walks in ? hide.

if their house was on fire and they had 60 seconds to leave ? what 5 things would they take with them ? laptop, phone, pictures of my family, wallet and textbooks (they were so fucking expensive)

« ° O V E R - A L L ;

when was the last time you tried something new ? earlier today i switched up my coffee order

would you ever give up on your life if you could save someone else’s with it ? probably not but it depends on the person

are you happy with yourself ? yes

what chances do you wish you had taken ? getting into a performing arts school, but i’m happy here too

what’s the first thing you think when you see yourself in the mirror ? holy shit those are some bags under my eye

#thegreekstask #it's not the 8th for a few minutes yet but BOI did i leave this until the last minute #anywhomst heres my trash boi's survey #if it needs any tw's please tell me!! <3

1 note · View note

damienshaw · 3 years ago

Photo

MYSTIC: TASK #002 FAMILY TREE/CHARACTER RELATIONSHIPS

► 001. FAMILY.

Kieran Shaw (Jeff Bridges) | Father

Once upon a time Kieran was the apple of his son’s eye. He was the one who instilled most of the lessons that Damien still inhabits until this day, yet couldn’t even follow himself. Growing up Kieran never spoke about his childhood, he was saving it for the “self proclaimed” autobiography he had been working on for years. And despite being a romantic with an adventurous streak in him, the constant failure of being unable to make his dreams a reality had broken him down into someone unrecognizable. The first time Damien saw, then felt, his father’s hands being placed upon his mother and himself, his world completely shattered. He was only ten then, coping by keeping all of his emotions and feelings as tempered as could be so as not to incite his father’s anger. He grew to hate Kieran, eventually protecting his mother in self defense before they ran away. From time to time, he might’ve heard some word about his father having remarried and moved on but he never allowed anyone to finish their statements since there is nothing but bad feelings associated with the man. Damien has’t seen or heard from Kieran in over twenty-years and he has no problem keeping it that way.

Elizabeth Cross (Juliane Moore) | Mother

Lizzie Cross came from a nuclear family. Her father was a partner in a highly successful law firm placed in the heart of New York City. Her mother was a stay at home mom, taking care of her daughter and husband’s needs always without complaint. It was a life Elizabeth didn’t want, so she skipped college and went on her own journey across country where she met Kieran, fell in love, and had Damien less than two years later. Though their demise would say otherwise, there was a time when his parents truly loved each other. So much so that, before things went to shit, he idolized their love. Even though his mother had made questionable decisions herself when she was younger she had always remained gentle and kind to her one and only child. Understanding and real. She never deserved the bad things his father did to her. Even in adulthood, his mother remains his best friend and biggest fan. They talk every day no matter where he happens to be and, sometimes, he flies her out on his assignments.

The Great Wonder (Tom Holland) | Son

Perhaps there was a time when Damien wanted children. Truthfully he couldn’t remember, but after all of the abuse his father had subjected him to he had given up on such a thought. Despite the fact that he would never hurt anyone unless it was called for, Damien felt that he had other ugly aspects of his father that he never wanted to pass down to a child. His blood, his genes, were simply tainted. Damaged goods. Even after going steady with Jamie Reid at the age of fifteen and losing their virginities to each other a year later, it never dawned on Damien that the possible reasoning for Jamie’s apparent ghosting was because she was pregnant. Twenty-two years later and Damien still doesn’t have a clue that one of his worst nightmares has been a reality for more than half of his life.

Sasha Shaw | Fur Baby

The absolute love of his life, Damien saved Sasha from a kill shelter as a puppy. Having been badly malnourished and thrown away in a box, the veterinarian had no idea if she would survive but Damien insisted that they do whatever needed to be done and he would gladly pay for it. Seven months later and Sasha was fully healed and they were stuck at the hip... the rest is history. As a fairly active man, there is no place that Damien will go without Sasha. Whether it’s traveling for work or various adventures throughout his day—dog park, hiking, jogging, walking to the corner store in New York, etcetc—Sasha is by his side 9 times out of 10 and there’s nothing anyone tell him about it.

The Other Family (UTP 0/3) | Step Siblings

While Kieran was off on those adventures without Damien and his mother, he had come across a few women in his time. It was an arrangement that Lizzie had no problem with as long as he didn’t get emotionally invested, but regardless of what was agreed upon, Kieran had found himself breaking that promise much like many others. While Lizzie and Damien were left in the dark, Kieran had gotten another woman pregnant when Damien was just twelve years old... and continued to throughout the years before and after he ran back to the mystery woman to lick his wounds. Not that this is information that Damien has become privy to even now.

► 002. FRIENDS & ACQUAINTANCES.

John Reid (Liam Neeson) | Father-Figure

One would argue that if Damien didn’t have John Reid as his mentor, he wouldn’t have been as successful in his career path or life. John was everything that his father thought he was—or rather, who Kieran pretended to be. A true artist who inspired with kindness, direction and wise words rather than beaten down deterioration. Their relationship is one that has spanned exactly twenty-four years and, much like his own mother, Damien calls and visits the man whom he considers family till this very day when time allows it.

Nora Broderick (Tessa Thompson) | Best Friend

Right as Damien was beginning to get more traction in his career, he moved to California for a time where he happened to be introduced to Nora’s then husband, and eventually, Nora herself. They hit it off quite well—bonding exceptionally quick much to Damien’s surprise—and were there for each other when various situations were especially difficult in each other’s lives. It’s a bond that has withstood the span of time, even with Damien constantly on the go for work. He would do anything for Nora and he was sure that she would definitely do the same for him.

Matty Razo (Peter Gadiot) | Mentee

The little brother he never knew he wanted, when Damien first met Matty the younger male wasn’t quite ready to show off his artistic skills but somehow Damien was lucky enough to be the first to make him feel comfortable. Knowing the true power of being saved by your passion first hand, he returned the favor and simply did for Matty what John Reid did for him many years ago. When he found out that Matty stopped being a cop and instead opened his own tattoo shop, Damien couldn’t have been more proud—even if he still hasn’t visited yet, they kept in touch, maintaining the close relationship they built in New York.

Marcus Turner (Jesse Williams) | Friend

Introduced through Jamie when they were teenagers, at first Marcus and Damien got along like apples and oranges. The complete opposite of each other, Damien learned how to not simply be the wallflower in the background because of Marcus’ influence. In their older age, Damien often let’s Marcus know whenever he’s back in town for a drink or to chill with him at whatever high end New York elite party Marcus drags him to. One thing they both avoid, however, is the mention of Jamie—and Damien has always been thankful that Marcus has always seemed to have a quiet understanding on the matter. Though he has no idea that Marcus is currently in Mystic and the circumstances that made it so.

Travis Hawthorne (Matt Bomer) | Fellow Book Nerd

After meeting on during the beach event in the Coastline (taking pictures of the townsfolk and filming “positive” testimonies), both men got to chatting as Damien started packing his gear for the day. In that time span, both learned that they had some things in common—mostly, their love for literature. Deciding to exchange numbers, they have made their very own two-man book club here in Mystic.

Emir Turel (Kerem Bürsin) | Business Associates

Though not the closest of friends there is one thing that Emir and Damien share: a healthy respect for anyone who has pushed themselves to succeed. It’s something that they both relate to heavily, having been around the same circles, and worked with each other in the past to great results. When it comes to business their minds are very similar: get the job done.

Johanna Malcom (Bethany Joy Lenz) | Acquaintance

While Jamie and him were dating, Jamie had gushed constantly about her friends. Most notably Jo. Though they haven’t officially met in person, he did recognize Johanna from the pictures that he has seen even from all of those years ago.

► 003. ROMANTIC.

Jamie Reid (Alexandra Breckenridge) | Baby Momma/First Love

The epitome of the one who got away, Damien has been haunted by Jamie ever since she first disappeared twenty-three years ago. Even after they bumped into each other again in their early twenties in Europe purely by chance, did he find himself unable to let go emotionally. They were star-crossed; perfect for each other but unable to be together due to various inconveniences. So, they moved on and it was supposed to be that—despite the lack of questions asked on his part to keep him from spiraling down a rabbit hole. Still, he never forgot about her and has a weakness fondness for her til this very day.

Mia Valentine (UTP) | Ex-Girlfriend

The second woman he’s ever allowed himself to fall for. Though their personalities were completely different (with Mia being a complete Type A personality to the T), Damien adored Mia in his own way. In fact, she was the first woman since Jamie that he had allowed himself to be emotionally available for. She was the ying to his yang; the woman who strengthened every one of his weakness and vice versa and they were very happy for four years despite their bickering. Until she started talking about marriage... and children. Knowing that he wouldn’t be able to give her what she wanted, Damien broke it off after Mia proposed.

#mystic: task #mentions of:#abuse tw

4 notes · View notes

mayramoss-blog1 · 6 years ago

Text

Manchester United plc 2019 Second Quarter Results

Q2 RECORD REVENUES OF £208.6 MILLION

Q2 RECORD ADJUSTED EBITDA OF £104.3 MILLION

Q2 OPERATING PROFIT OF £44.0 MILLION

MANCHESTER, England--(BUSINESS WIRE)-- 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 second quarter ended 31 December 2018.

Highlights

Ole Gunnar Solskjaer and Mike Phelan returned to Old Trafford to manage the remainder of the 18/19 season

Agreed new contracts with Anthony Martial, Ashley Young, Chris Smalling, Phil Jones and Scott McTominay

Record revenue and EBITDA for the quarter of £208.6m and £104.3m

Announced partnership with Harves to open a series of Manchester United Entertainment and Experience Centres in China

Announced global partnership with Remington

Commentary

Ed Woodward, Executive Vice Chairman, commented, "The appointment of Ole and Mike as caretaker manager and assistant manager, working with Kieran, Michael and Emilio, has had a positive impact throughout the club. We are delighted with the improvement in the team’s performances since December and we look forward to a strong finish to the 18/19 season."

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)

£ million (except earnings/(loss) per share) Three months ended

31 December

Six months ended

31 December

2018

Restated(1)

2017

Change

2018

Restated(1)

2017

Change

Commercial revenue 65.9 65.3 0.9% 141.8 145.8 (2.7%) Broadcasting revenue 103.7 75.2 37.9% 146.5 116.0 26.3% Matchday revenue 39.0 36.9 5.7% 55.3 59.3 (6.7%) Total revenue 208.6 177.4 17.6% 343.6 321.1 7.0% Adjusted EBITDA(2) 104.3 81.2 28.4% 133.7 120.5 11.0% Operating profit 44.0 42.2 4.3% 57.9 60.1 (3.7%) Profit/(loss) for the period (i.e. net income/(loss))(3) 26.8 (19.7) - 33.4 (10.1) - Basic earnings/(loss) per share (pence) 16.27 (12.00) - 20.31 (6.17) - Adjusted profit for the period (i.e. adjusted net income)(1)/(2) 46.3 23.9

93.7%

53.3 31.8 67.6% Adjusted basic earnings per share (pence)(2) 28.13 14.56

93.2%

32.40 19.38 67.2% Net debt(2)/(4) 317.7 328.6 (3.3%) 317.7 328.6 (3.3%)

(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 existing US deferred tax position in the period to 31 December 2017. As a result the loss for the three and six months ended 31 December 2017 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 £65.9 million, an increase of £0.6 million, or 0.9%, over the prior year quarter.

Sponsorship revenue for the quarter was £40.3 million, an increase of £1.0 million, or 2.5%, over the prior year quarter;

Retail, Merchandising, Apparel & Product Licensing revenue for the quarter was £25.6 million, a decrease of £0.4 million, or 1.5% over the prior year quarter.

Broadcasting

Broadcasting revenue for the quarter was £103.7 million, an increase of £28.5 million, or 37.9%, over the prior year quarter, primarily due to the new UEFA Champions League broadcasting rights agreement and playing one additional UEFA Champions League game.

Matchday

Matchday revenue for the quarter was £39.0 million, an increase of £2.1 million, or 5.7%, over the prior year quarter, primarily due to playing one additional UEFA Champions League home game.

Other Financial Information

Operating expenses

Total operating expenses for the quarter were £160.3 million, an increase of £24.1 million, or 17.7%, over the prior year quarter.

Employee benefit expenses

Employee benefit expenses for the quarter were £77.9 million, an increase of £8.2 million, or 11.8%, 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 £26.4 million, a decrease of £0.1 million, or 0.4%, over the prior year quarter.

Depreciation & amortization

Depreciation for the quarter was £3.0 million, an increase of £0.3 million, or 11.1%, over the prior year quarter. Amortization for the quarter was £33.4 million, a decrease of £3.9 million, or 10.5%, over the prior year quarter. The unamortized balance of registrations at 31 December 2018 was £309.1 million.

Exceptional items

Exceptional items for the quarter were £19.6 million, relating to compensation to the former manager and certain members of the coaching staff for loss of office. Exceptional items for the prior year quarter were £nil.

(Loss)/profit on disposal of intangible assets

Loss on disposal of intangible assets for the quarter was £4.3 million, compared to a profit of £1.0 million in the prior year quarter.

Net finance costs

Net finance costs for the quarter were £6.3 million, an increase of £1.9 million, or 43.2%, over the prior year quarter, primarily due to unrealized, non-cash foreign exchange losses on unhedged USD borrowings compared to gains in the prior year quarter.

Tax

Tax expense for the quarter was £10.9 million, compared to £57.5 million in the prior year quarter. 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 prior year quarter included a non-cash tax accounting write off of £49.0 million.

Cash flows

Net cash used in operating activities for the quarter was £42.4 million, a decrease of £2.0 million over the prior year quarter.

Net capital expenditure on property, plant and equipment for the quarter was £2.4 million, a decrease of £1.7 million over the prior year quarter.

Net capital expenditure on intangible assets for the quarter was £16.2 million, an increase of £4.4 million over the prior year quarter.

Overall cash and cash equivalents (including the effects of exchange rate changes) decreased by £57.1 million in the quarter, compared to a decrease of £60.9 million in the prior year quarter.

Net debt

Net debt as of 31 December 2018 was £317.7 million, a decrease of £10.9 million over the year. The gross USD debt principal remains unchanged.

Dividend

A semi-annual cash dividend of $0.09 per share was paid on 4 January 2019. A further semi-annual cash dividend of $0.09 per share will be paid on 5 June 2019, to shareholders of record on 26 April 2019. The stock will begin to trade ex-dividend on 25 April 2019.

Conference Call Information

The Company’s conference call to review second quarter fiscal 2019 results will be broadcast live over the internet today, 14 February 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 for the period before depreciation, amortization, profit on disposal of intangible assets, exceptional items, net finance costs, 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/(loss) 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 the adjusted tax expense for the period (based on a normalized tax rate of 21%; 2017: 35%). 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) equivalent to the US federal corporate income tax rate of 21% (2017: 35%). 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 Six months ended 31 December 31 December

2018

Restated(1)

2017

2018

Restated(1)

2017

Commercial % of total revenue 31.6% 36.8% 41.3% 45.4% Broadcasting % of total revenue 49.7% 42.4% 42.6% 36.1% Matchday % of total revenue 18.7% 20.8% 16.1% 18.5% Home Matches Played PL 7 7 10 11 UEFA competitions 3 2 3 3 Domestic Cups - - 1 1 Away Matches Played PL 6 7 10 10 UEFA competitions 2 2 3 4(2) Domestic Cups - 2 - 2 Other Employees at period end 937 923 937 923 Employee benefit expenses % of revenue 37.3% 39.3% 45.1% 43.5%

(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 gamesQuarter 1 Quarter 2 Quarter 3 Quarter 4 Total 2018/19 season* 7 13 12 6 38 2017/18 season 7 14 10 7 38

*Subject to changes in broadcasting scheduling

CONSOLIDATED INCOME STATEMENT(unaudited; in £ thousands, except per share and shares outstanding data) Three months ended

31 December

Six months ended

31 December

2018 Restated(1)

2017

2018 Restated(1)

2017

Revenue208,612 177,415 343,638 321,080 Operating expenses (160,269) (136,252 ) (303,849) (279,288 ) (Loss)/profit on disposal of intangible assets (4,349) 1,013 18,079 18,292 Operating profit 43,994 42,176 57,868 60,084 Finance costs (7,131) (4,533 ) (12,946) (5,534 ) Finance income 785 170 1,474 388 Net finance costs (6,346) (4,363 ) (11,472) (5,146 ) Profit before tax37,648 37,813 46,396 54,938 Tax expense(2) (10,878) (57,510 ) (12,980) (65,065 ) Profit/(loss) for the period 26,770 (19,697 ) 33,416 (10,127 ) Basic earnings/(loss) per share: Basic earnings/(loss) per share (pence) 16.27 (12.00 ) 20.31 (6.17 ) 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)16.26 (12.00 ) 20.29 (6.17 ) Weighted average number of ordinary shares outstanding (thousands) 164,663 164,585 164,663 164,585

(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 prior year period tax expense included a non-cash tax accounting write off of £49.0 million. (3) For the three and six months ended 31 December 2017 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 December

2018

Restated(1)

30 June

2018

Restated(1)

31 December

2017

ASSETS Non-current assets Property, plant and equipment 246,910 245,401 246,673 Investment property 13,772 13,836 13,901 Intangible assets 739,472 799,640 770,076 Derivative financial instruments 2,559 4,807 1,192 Trade and other receivables 10,387 4,724 10,560 Tax receivable 547 547 1,882 Deferred tax asset 57,636 63,332 77,500 1,071,283 1,132,287 1,121,784 Current assets Inventories 2,610 1,416 1,918 Derivative financial instruments 625 1,159 2,704 Trade and other receivables 124,232 168,060 123,027 Tax receivable 598 800 - Cash and cash equivalents 190,395 242,022 155,312 318,460 413,457 282,961 Total assets 1,389,743 1,545,744 1,404,745 (1) Comparative amounts have been restated – see supplemental note 5 for further details. CONSOLIDATED BALANCE SHEET (continued)(unaudited; in £ thousands) 31 December

2018

Restated(1)

30 June

2018

Restated(1)

31 December

2017

EQUITY AND LIABILITIESEquity Share capital 53 53 53 Share premium 68,822 68,822 68,822 Merger reserve 249,030 249,030 249,030 Hedging reserve (35,693) (27,558 ) (23,944 ) Retained earnings 170,544 136,757 184,529 452,756 427,104 478,490 Non-current liabilities Trade and other payables 46,644 104,271 70,331 Borrowings 502,576 486,694 474,748 Deferred revenue 32,952 37,085 32,704 Deferred tax liabilities 33,302 29,134 35,801 615,474 657,184 613,584 Current liabilities Tax liabilities 5,771 3,874 3,704 Trade and other payables 180,588 267,996 182,965 Borrowings 5,492 9,074 9,160 Deferred revenue 129,662 180,512 116,842 321,513 461,456 312,671 Total equity and liabilities 1,389,743 1,545,744 1,404,745 (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 December

Six months ended

31 December

2018 2017 2018 2017 Cash flows from operating activities Cash (used in)/generated from operations (see supplemental note 4) (41,019) (38,440 ) 82,337 (11,489 ) Interest paid (1,734) (1,621 ) (9,507) (9,639 ) Interest received 722 170 1,355 388 Tax paid (376) (4,530 ) (1,810) (5,768 ) Net cash (used in)/generated from operating activities (42,407) (44,421 ) 72,375 (26,508 ) Cash flows from investing activities Payments for property, plant and equipment (2,414) (4,243 ) (7,318) (8,587 ) Proceeds from sale of property, plant and equipment - 75 - 75 Payments for intangible assets (16,418) (12,000 ) (145,056) (129,121 ) Proceeds from sale of intangible assets 255 256 25,183 32,442 Net cash used in investing activities (18,577) (15,912 ) (127,191) (105,191 ) Cash flows from financing activities Repayment of borrowings - (106 ) (3,750) (206 ) Net cash used in financing activities - (106 ) (3,750) (206 ) Net decrease in cash and cash equivalents(60,984) (60,439 ) (58,566) (131,905 ) Cash and cash equivalents at beginning of period 247,505 216,236 242,022 290,267 Effects of exchange rate changes on cash and cash equivalents 3,874 (485 ) 6,939 (3,050 ) Cash and cash equivalents at end of period 190,395 155,312 190,395 155,312

SUPPLEMENTAL NOTES

1General 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.

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

Three months ended

31 December

Six months ended

31 December

2018

£’000

Restated(1)

2017

£’000

2018

£’000

Restated(1)

2017

£’000

Profit/(loss) for the period26,770 (19,697 ) 33,416 (10,127 ) Adjustments: Tax expense 10,878 57,510 12,980 65,065 Net finance costs 6,346 4,363 11,472 5,146 Loss/(profit) on disposal of intangible assets 4,349 (1,013 ) (18,079) (18,292 ) Exceptional items 19,599 - 19,599 - Amortization 33,440 37,335 68,571 73,389 Depreciation 2,970 2,755 5,779 5,329 Adjusted EBITDA 104,352 81,253 133,738 120,510

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

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

Three months ended

31 December

Six months ended

31 December

2018

£’000

Restated(1)

2017

£’000

2018

£’000

Restated(1)

2017

£’000

Profit/(loss) for the period26,770 (19,697 ) 33,416 (10,127 ) Exceptional items 19,599 - 19,599 - Foreign exchange losses/(gains) on unhedged US dollar borrowings 1,316 (1,328 ) 1,535 (6,824 ) Fair value movement on embedded foreign exchange derivatives 25 291 (56) 845 Tax expense 10,878 57,510 12,980 65,065 Adjusted profit before tax 58,588 36,776 67,474 48,959

Adjusted tax expense (using a normalized US statutory rate of 21% (2017: 35%))

(12,303) (12,872 ) (14,170) (17,136 ) Adjusted profit for the period (i.e. adjusted net income) 46,285 23,904 53,304 31,823 Adjusted basic earnings per share: Adjusted basic earnings per share (pence) 28.13 14.56 32.40 19.38 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) 28.11 14.52 32.37 19.34 Weighted average number of ordinary shares outstanding (thousands) 164,663 164,585 164,663 164,585

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

4Cash (used in)/generated from operations

Three months ended

31 December

Six months ended

31 December

2018

£’000

Restated(1)

2017

£’000

2018

£’000

Restated(1)

2017

£’000

Profit/(loss) for the period 26,770 (19,697 ) 33,416 (10,127 ) Tax expense 10,878 57,510 12,980 65,065 Profit before tax 37,648 37,813 46,396 54,938 Depreciation 2,970 2,755 5,779 5,329 Amortization 33,440 37,335 68,571 73,389 Loss/(profit) on disposal of intangible assets registrations 4,349 (1,013 ) (18,079) (18,292 ) Net finance costs 6,346 4,363 11,472 5,146 Profit on disposal of property, plant and equipment - (75 ) - (75 ) Equity-settled share-based payments 161 618 371 1,203 Foreign exchange losses on operating activities (95) 9 182 1,000 Reclassified from hedging reserve 1,536 3,587 2,844 7,468 Changes in working capital: Inventories 56 156 (1,194) (281 ) Trade and other receivables (30,303) (37,282 ) 39,293 (25,437 ) Trade and other payables and deferred revenue (97,127) (86,706 ) (73,298) (115,877 ) Cash (used in)/generated from operations (41,019) (38,440 ) 82,337 (11,489 )

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

5Restatement 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 six months ended 31 December 2018 contains tables and notes which explain how the restatement affected the consolidated income statement, 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 Three months Three months Three months Twelve months

ended

ended ended ended ended 30 September 31 December 31 March 30 June 30 June

2017

2017 2018 2018 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20190214005343/en/

Manchester United plc Investor Relations: Cliff Baty Chief Financial Officer +44 161 868 8650 [email protected]

Manchester United plc Media: Charlie Brooks Director of Communications +44 161 868 8148 [email protected]

Sard Verbinnen & Co Jim Barron / Devin Broda + 1 212 687 8080 [email protected] [email protected]

Source: Manchester United

Source link

https://www.manutdnews.online/manchester-united-plc-2019-second-quarter-results/

#2019 #manchester #plc #quarter #results #united #mainposts

0 notes