Manchester United plc (NYSE:MANU) Q3 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 08:00 am ET


Manchester United plc (NYSE:MANU) Q3 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Manchester United Earnings Conference Call. At this time, all participants are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions]

I will now turn the call over to Corinna Freedman, Head of Investor Relations for Manchester United.

Corinna Freedman

Thank you, operator. Good morning, everyone, and welcome to Manchester United's third quarter 2020 earnings call. A corresponding press release containing our financial results was issued earlier this morning and can be accessed on our IR website. Today's call is being recorded and webcast, and a replay will also be available on our site for 30 days thereafter.

Before we begin, and as a matter of formality, we would like to remind everyone that this conference call will include estimates and forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such estimates or forward-looking statements should be considered along with the cautionary note included with our earnings release, as well as additional risk factor discussions in our filings with the SEC.

With us on the call today, Ed Woodward, our Executive Vice Chairman; Richard Arnold, our Group Managing Director; Cliff Baty, our Chief Financial Officer; and Hemen Tseayo, our Head of Corporate Finance.

I will now turn the conference call over to our Executive Vice Chairman, Ed Woodward, for his opening remarks. Ed?

Edward Woodward

Thank you, Corinna, and thank you to everyone for joining us today. These are unprecedented times, and I would like to take a moment at the very top of this call to say that I hope you and your families are staying healthy and safe. On behalf of everyone at Manchester United, I would also like to send the club's profound sympathies to all of those suffering directly from the COVID-19 virus, for those who may have lost family members due to this virus, and for those essential and front-line workers, who everyday bravely risk infection doing their normal jobs. You are all in our thoughts, and we're very grateful to your sacrifice and to your service.

We will win as some tireless work have been carried out in hospitals and other care settings within our local communities and by charities dealing with the economic fallout from the crisis. We take seriously our responsibility to support these efforts. I'm proud of the way everyone at Manchester United has responded. From our staff, we packaged out 30,000 items of food and drink from club stores for local charities, and the staff volunteering to cook 60,000 meals for National Health Service staff in Greater Manchester hospitals. These are just two among many examples of how our people are rallying to help backing the club and the Manchester United Foundation, which continues to expand its charitable response in the U.K. and overseas. We believe these initiatives are not only the right thing to do, but they are also essential to upholding