Why companies business value increases from year to year while not making profit for continuous years?

<p>This Year Manchester United Foot Ball Club market value has increased to £3.62 billion. In2004,98% the club asset were purchased for something near to £800 million by the Glazer Family. . Since acquisition by this family, the FC has never made an significant profit. Even the FC was in a financial difficulties.Despite this difficulty, the club market value has increasing from year to year. last year the club worth something £3.125 billion. This year this has increased to £3.6 billion? Why and How such increase in worth be achieved while not making profit?</p>