The club have also recorded a record revenue of £331.4million - an increase of £45million from last year and passing £300million for the first time - according to figures for the year ended June 30, 2011.
United, who won the Barclays Premier League title and reached the Champions League final during the period, have also recorded a commercial turnover of £103.4million.
The latest results come as the club consider a plan to raise up to £614million by floating on the Singapore Stock Exchange.
The figures contrast with those of last year when losses hit a record £83.3million, largely due to the costs of a bond issue.
The 15.7% rise in commercial revenues is hugely encouraging for the club and does not include a new £10million-a-year training kit sponsorship deal with DHL.
The Singapore floatation is being considered by the Glazer family, the club's owners, as a means of addressing debts.
Net debt is down to £308.3million from £376.9million according to the new figures.
It is thought the floatation could be completed by the end of the year.
United, having struggled to sell corporate boxes last year, have also enjoyed an increase in matchday turnover from £100.2million to £108.6million.