Group 1 - The article discusses the potential for investing in undervalued stocks that are mispriced by the market as the third quarter comes to an end [1] - It suggests that investors may consider joining a platform that provides insights on these investment opportunities [1] Group 2 - There is a mention of a potential long position in a specific stock, MANU, indicating interest in initiating a beneficial investment within the next 72 hours [2] - The article emphasizes that the opinions expressed are those of the author and not influenced by any compensation from companies mentioned [2]

Group 1 - The article discusses the potential for investing in undervalued stocks that are mispriced by the market as the third quarter comes to an end [1] - It suggests that investors may consider joining a platform called Out Fox The Street for insights on these investment opportunities [1] Group 2 - There is a mention of a potential long position in a company referred to as MANU, indicating interest in purchasing stock or options within the next 72 hours [2] - The article emphasizes that the information provided is for informational purposes only and does not constitute a solicitation to buy or sell securities [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 30 June 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Core Viewpoint - Manchester United plc reported a fourth-quarter net loss, but revenue increased significantly, indicating mixed financial performance [1] Financial Performance - The company reported a fourth-quarter net loss of 3.9 million pounds, or 2.26 pence per share, compared to a loss of 36.3 million pounds, or 21.44 pence per share, in the previous year [1] - Revenue rose by 15.4 percent to 164.1 million pounds, driven by strong growth in commercial, broadcasting, and matchday revenue [1] Stock Performance - The stock price fell by 7.58 percent to $15.16, down $1.24, after the earnings report [1] - The stock opened at $15.65 and traded within a range of $14.59 to $15.80, compared to a prior close of $16.41 on the New York Stock Exchange [1] - Trading volume reached 1.0 million shares, significantly above the average of 289,193 shares [2] - The stock is currently trading within a 52-week range of $12.05 to $19.65 [2]

Market Overview - The U.S. markets opened with the Dow Jones Industrial Average leading, up by 0.40%, while the S&P 500, Russell 2000, and Nasdaq showed little movement [2] - The Dow is making gains despite negative news affecting Nvidia, which is down by 1.2% [2] Economic Data - Recent housing market data indicates a slowdown, with Building Permits at 1,312,000, below the expected 1.37 million, reflecting a year-over-year decrease of 3.7% [6] - Housing Starts also fell short of expectations at 1,307,000, down 8.5% year-over-year [6] Federal Reserve Anticipation - Investors are awaiting the Federal Reserve's interest rate decision, with expectations of a 25 basis point cut [7] - The Fed's announcement is anticipated to provide insights into future monetary policy and interest rate adjustments [7]

Core Insights - Manchester United reported a quarterly loss of $0.04 per share, outperforming the Zacks Consensus Estimate of a loss of $0.09, and showing improvement from a loss of $0.20 per share a year ago [1] - The company achieved an earnings surprise of +55.56% and had previously been expected to post a loss of $0.33 per share, resulting in a surprise of +87.88% [1][2] - Revenue for the quarter was $219.2 million, missing the Zacks Consensus Estimate by 2.92%, but up from $179.43 million year-over-year [2] Financial Performance - Over the last four quarters, Manchester United has exceeded consensus EPS estimates four times [2] - The company has only surpassed consensus revenue estimates once in the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $214.99 million, and -$0.17 on revenues of $992.45 million for the current fiscal year [7] Market Position - Manchester United shares have declined approximately 5.4% year-to-date, contrasting with the S&P 500's gain of 12.3% [3] - The stock currently holds a Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Leisure and Recreation Services industry, to which Manchester United belongs, is ranked in the top 42% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Performance - Manchester United is struggling with flat-lined revenues and mounting losses [1] Industry Dynamics - Manchester United is failing to keep pace with its larger rivals in the Premier League [1]

Core Viewpoint - Manchester United is expected to report strong commercial and broadcasting revenue in its upcoming fourth-quarter results, attracting investor interest [1][2]. Financial Performance - Analysts estimate fourth-quarter revenue of $225.8 million, a 25.8% increase from $179.4 million in the same quarter last year [1]. - The company is projected to report a loss of 6 cents per share, an improvement from a loss of 20 cents per share in the previous year [2]. - Manchester United has beaten revenue estimates in two consecutive quarters and in eight of the last ten quarters [2]. Revenue Segments - Key revenue segments to watch include broadcasting, commercial, and match day revenue, all of which showed year-over-year growth in the third quarter [3]. - The English Premier League's new domestic television rights deal starting in the 2025-2026 season is expected to enhance broadcasting revenue [4]. Partnerships and Sponsorships - Manchester United has signed a multi-year partnership with Coca-Cola, becoming the official carbonated soft drink of the team in Europe, which could further boost revenue [4]. Team Performance - The team is currently in 14th place in the English Premier League, having finished 15th last season, which has impacted its matchday revenue [5][6]. - Despite recent poor performance, the team previously finished third in the 2022-2023 season, qualifying for the Champions League [5]. Investor Interest - There has been increased investor attention on Manchester United, potentially due to the rising valuations of professional sports teams [7]. - The team's valuation is estimated at $6.6 billion, with a public enterprise value of $3.6 billion, suggesting shares may be undervalued [8]. Stock Performance - Manchester United's stock trades at $16.05, within a 52-week range of $12.05 to $19.65, and has seen a year-to-date decline of 7.5% in 2025 [8].

Core Viewpoint - Manchester United plc will report its fourth quarter fiscal 2025 results on 17 September 2025 at 7:00 AM ET [1] Company Overview - Manchester United is recognized as one of the most popular and successful sports teams globally, with a rich football heritage spanning 147 years [1] - The club has achieved a total of 69 trophies throughout its history, contributing to its strong brand and market presence [1]

Core Insights - The article emphasizes the importance of a mixed investment strategy that combines long-term conviction holdings with tactical sector rotations, highlighting that successful investing is more about profitability than being right [1]. Group 1 - The author has a background in Finance and Accounting, along with experience in financial advisory, which informs their investment approach [1]. - The investment strategy focuses on undercovered opportunities and momentum-driven sectors, suggesting a proactive approach to identifying potential growth areas [1].