United, controlled by the American Glazer family, forecast underlying profit of 128-133 million pounds in the period to June 2014.
The targets were based on the team finishing third in the English Premier League and reaching the quarter-finals of the Champions League and domestic cups.
Revenues in the year to June 2013 came in at 363.2 million pounds ($577.6 million), just ahead of the club's forecast.
Profit was £108.6 million, excluding items such as interest and tax payments.
With new deals being announced on almost a weekly basis, it is no surprise commercial revenues have risen a staggering 29.7% to £152.5million for the year ended June 30, 2013.
It is the most significant rise in an overall 13.4% increase in turnover to a club record of B£363.2million. The club's debt has fallen by 10.9% to £389.2million.
The adjusted profit for the period is £17.2million.
Wages have risen 11.6% to £180.5million, partly as a result of the club taking on more staff to work on its new digital operation, but also an increase in player salaries.
United have reported a rise in sponsorship revenue alone of 44.1% to £90.9million.
However, broadcast revenue has dipped 2.3% to £101.6million as United gained only a 25% share of Champions League revenue paid to England's four competing clubs in last season, due to a second-place finish behind Manchester City in the previous campaign.
An increase in matchday revenues of 10.5% to £109.1million was mainly due to Old Trafford being a host Olympic venue.
The club confirmed "exceptional items" costs of £6.2million were partly due to costs incurred with the flotation in New York, but also contracts of coaching staff - Mike Phelan, Rene Meulensteen and Eric Steele - being paid up following the summer departure of manager Sir Alex Ferguson.
It was also stated in the results than net finance increased £21.3 million to £70.8 million primarily due to a £22million premium paid to buy back some of its bonds, which will save interest payments in future years.
"I am reminded of a statement by Rupert Murdoch," said Woodward in a conference call to shareholders.
"There is a reason sports cost a lot. It is the most important content on TV, period."
Whether by accident or design, the Glazer family have ridden through the storm that accompanied their massively controversial leveraged buyout in 2005.
More long-term it seems the United States - where it is believed United will head on tour next summer, and possibly the one after as well - as the key growth market.
"Last year we spoke about how we would use a scalpel rather than a spade when it came to segmenting our sponsorship opportunities across categories and countries," said Woodward.
"The US market is under-penetrated.
"It is a very big media market, the most developed sports market in the world.
"But we don't want to deals that are quick and wrong, that tie us up and we regret afterwards.
"We believe there has been an inflection point from 2010-11 when interest levels in football have increased.