ever were.Alex Ferguson became manager of Man United in 1986. After three years, he had brought the club no major success. Many were calling for him to resign. But the board of Man United held resolute, looked to the future. In 1990 came their first major title but it was not until 1994 that the planning and the patience truly began to pay off. Thats a long time to wait in football, a sport notorious for getting rid of managers who do not deliver immediate success. With our Internet stocks frenzy and our quarter by quarter expectations, it is easy to forget that a year isnt really all that long, that five years isnt really all that long. Substance grows slowly. Solidity needs to settle. Style is a finely honed art. Success can take time.Man United have proven that sporting (and commercial) success of unheralded proportions can still be achieved in the age of the press release, by the time-honoured practices of perseverance, self-belief and attention to detail.Board of Directors : From left to right: Peter Kenyon, Amer AlMidani, Martin Edwards, Maurice Watkins, Professor Sir Roland Smith, Greg Dyke, David GillProfit before taxation rose to 27.6 million, compared with 15.4 million in 1996. An exceptional contribution of 2.2 million was included in the prior years pre-taxation figures. Turnover for the year was 87.9 million (1996 - 53.3 million) an increase of 65 per cent. This flowed through to an operating profit of 26.2 million (1996 - 14.2 million), a rise of 85 per cent. Profit after taxation was 19.0 million (1996 - 11.3 million, 9.1 million excluding the exceptional item). Earnings per share were 29.8 pence (1996 - 18.4 pence, 14.9 pence excluding the exceptional item).The Board is recommending a 19 per cent increase in the final dividend to 4.3 pence per share (1996 - 3.6 pence per share) giving a total dividend for the year of 6.2 pence (1996 - 5.2 pence per share). Further commentary on the results is given in the Financial Rev...
