*

Net loss widened to 113.2 mln pounds, second time over 100

mln

pounds since NY listing

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Aim is to return the club to top of European football -CEO

*

Forecast reflects impact of recent restructuring

(Recasts paragraph 1 with CEO comment, adds detail and

background throughout)

By Yadarisa Shabong and Shashwat Awasthi

Sept 11 (Reuters) - Manchester United's ( MANU ) new

chief said on Wednesday the club was working towards improving

performance on and off the pitch after posting a fifth

consecutive year of net losses following a poor 2023-24 season.

United have embarked on a slew of changes since British

billionaire Jim Ratcliffe bought a 25% stake in the club and

under his stewardship had a positive summer in the transfer

market. The club made quick and decisive moves to secure new

players, many of whom are under 25 years of age, seeking success

with them in the short term and the future.

"We are working towards greater financial sustainability and

making changes to our operations to make them more efficient, to

ensure we are directing our resources to enhancing on-pitch

performance," stated the club's newly appointed CEO, Omar

Berrada.

United's net loss widened to 113.2 million pounds ($148.14

million) in the year ended June 30, from 28.7 million pounds a

year earlier. This was only the second time since the New York

listing that United's annual net loss was more than 100 million

pounds.

Shares were 5% lower in U.S. premarket trading.

The club said it was compliant with the Premier League's

Profit and Sustainability Rules and UEFA's Financial Fair Play

Regulations.

Berrada took the reins in July after moving from Manchester

City's parent company, City Football Group.

"Our clear objective is to return the club to the top of

European football."

United finished a disappointing eighth in the Premier League

last season, their lowest position since the league's inception.

This season hasn't started any better, with two losses from the

first three games.

Earlier this month, Berrada said manager Erik ten Hag had

the full backing of the club.

For the fiscal year 2025, the club expects an adjusted core

profit between 145 and 160 million pounds and revenues to range

from 650 to 670 million pounds. It reported adjusted core profit

of 147.7 million pounds on record revenues of 661.8 million

pounds in the fiscal year 2024.

The forecast reflects the impact of recent restructuring

initiatives that included plans for 250 job cuts.

($1 = 0.7641 pounds)