Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Arsenal Post Pre-Tax Profit of £17.8m

Tue 26th Feb 2013 | Money & Finance

Arsenal have posted a profit before tax of £17.8m in their latest half-year financial results.

The figures released for the half-year to the end of November 2012, show this was driven primarily by player sales of £42.5m but the accounts also show an investment of £40.9m in signing new players and the extension of contracts for existing players.

However, the club’s overall after tax profit for the six months was £14.9m, down from £8m in 2011.

Football turnover dropped from £113.5m to £106m as a result of four fewer home fixtures compared to the same period last year. However, overall operating profits from the club’s property operation increased to £1.9m versus £0.5m in 2011.

Chairman Peter Hill-Wood said: “Our ability to compete at the top of the game here and in Europe is underpinned by our financial performance which gives the club strength and independence.

“Our desire is to make everyone connected with Arsenal proud of the club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide.”

Arsenal now has no short-term debt and continues to have a robust financial platform from cash reserves of £123.3m.

The report also confirms the extended partnership with Emirates which will be worth up to £150m. This comes in addition to deals with Airtel and Malta Guinness and additional sponsorship linked to the pre-season tour.

Mr Hill-Wood added: “The Emirates partnership is one of the biggest sponsorship deals in the game and is an endorsement of the commercial approach we are taking.”

Source:www.arsenal.com

Posted by: Aaron Gourley

Subscribe to our newsletter

 

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE FCBUSINESS RSS FEED

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Mats Hummels Joins Juan Mata For Common Goal

Thu 17th Aug 2017 | Money & Finance

Bayern Munich and Manchester United stars unite behind Common Goal #CommonGoal World Cup winner and Bayern Munich player Mats Hummels has become the second footballer to join Common Goal , pledging 1%...

Aldershot Town Gets Financial Support From Council

Tue 15th Aug 2017 | Money & Finance

Aldershot Town Football Club has confirmed that Rushmoor Borough Council has agreed to a package of financial support for the club, including rent and rates relief, until 2021. Following on-field...

Chinese debts emphasize need for local players’ association

Thu 27th Jul 2017 | Money & Finance

FIFPro is ready to offer assistance to professional footballers in China and other parts of the world where local player associations do not yet exist. Media reports this week revealed several Chinese...

SPFL: No fresh tax scheme sanctions against Rangers

Wed 26th Jul 2017 | Money & Finance

The SPFL Board today announced, following legal advice from eminent Senior Counsel, Gerry Moynihan Q.C., that there will be no further disciplinary proceedings taken by the SPFL connected with the use...