Executive vice-chairman Ed Woodward has said Manchester United are committed to delivering success with manager Ole Gunnar Solskjaer as the club announced their latest financial results.

In a statement issued on Wednesday, United revealed revenues are up by 16% to £126.5 million thanks in part to supporters returning to Old Trafford after the coronavirus pandemic but in pointed comments, Woodward said it was "success on the pitch" which matters more.

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Solskjaer's team have lost six of their last 12 games to heap the pressure on the Norwegian ahead of Saturday's trip to Watford.

"While these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch," Woodward said.

"The manager, players and everyone at the club are determined to achieve that objective."

United's financial results for the 2022 fiscal first quarter ended Sept. 30, 2021 reveal wages increased by £16.6m to £88.5m, mainly due to investment in the squad over the summer with the arrivals of Cristiano Ronaldo, Raphael Varane and Jadon Sancho.

There is also a £17.4m "profit on disposal of intangible assets" after receiving the first installment from Daniel James' move to Leeds United and a gain of around €5m following Romelu Lukaku's transfer from Inter Milan to Chelsea due to a clause in his contract.

Sources have told ESPN that an 8% jump in commercial revenue has been driven in part by Ronaldo's return to Old Trafford from Juventus.

Despite a strong performance off the pitch, United are struggling on it after a dismal run of results which has seen them drop to sixth in the Premier League table, nine points behind leaders Chelsea and five points off the Champions League places.

Sources have told ESPN that Solskjaer is set to be in charge for the visit to Vicarage Road, but that his long-term future has not been guaranteed with games against Chelsea and Arsenal to come in the next two weeks.