Turnover increased at University Academy 92, which was set up by Gary Neville, Ryan Giggs, Paul Scholes, Phil Neville and Nicky Butt, during its latest financial year although its pre-tax losses remained static.
UA92, which is backed by Lancaster University, has reported a group turnover of £1.8m for the 12 months to July 31, 2021, up from the £787,641 it posted during the prior year.
The group's pre-tax losses also remained static at £2.3m.
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A statement signed off by the board said: "The business has performed in line with expectations."
During the year the group received a working capital injection of £1m each from 'shareholder A' and 'shareholder B'.
The shareholders have provided a further £1.5m since the end of the financial year.
UA92 recently received a £2m boost from the Office for Students, the independent regulator for higher education in England.
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The funding was awarded to support the development of a digital learning academy at the UA92 campus in Old Trafford, and is scheduled to open in September.
The new academy will increase UA92’s student capacity for digital students almost tenfold – from 65 to 634.
Sara Prowse, CEO at UA92, said: "Having opened our doors just three years ago, we are now a recognised name across the higher education sector, and despite the economic difficulties, we have achieved a growth in student fee income of 129% year on year and currently have almost 400 students enrolled across our courses.
"We continue to invest heavily in expanding our offering, and we have been pleased to receive a £2m grant from the Office for Students to further develop our digital proposition this year, helping us to deliver a career-ready digital workforce of graduates and digitally upskill employees across the region.
"Our ambition is to make higher education accessible to all, and alongside key strategic regional and international partners, we have implemented a number of initiatives to break down financial barriers and unlock access to education for hard-to-reach young people.
"The next 12 months are very exciting for UA92 and we look forward to continuing to drive our founding principles of accessibility, social mobility and inclusivity throughout everything we do."