First half profits at Europe’s richest football club, Manchester United, have leapt up by 32 per cent.

The club reported that the six-month period, to 31 January, saw it close the books while £26.8m in the black – well ahead of analysts expectations.

David Gill, chief executive, said: “The recent period has presented a number of challenges for the management team and yet we have remained focused on the business and produced a strong set of results.”

“The Manchester United brand goes from strength to strength and we are continuing to convert fans into customers,” he said.

The news was followed by a statement from American businessman, Malcolm Glazier, that he had no intentions to either sell or buy more shares in the club.

Glazier currently owns 16.69 per cent of Manchester United, making him the second largest shareholder after Irish investment duo, John Magnier and JP McManus.

Magnier and McManus were involved in a well-publicised spat with United’s manager Alex Ferguson, regarding stud fees from the racehorse, Rock of Gibraltar.

Should the Irish duo increase their current stake of 28.9 per cent to 30 per cent, it would automatically begin takeover proceedings.