Arsenal have released their financial results for the 6 months ended 30 November 2012. Here’s a summary:
- Group profit before tax was £17.8 million (2011 -£49.5 million).
- Profit on sale of player registrations amounted to £42.5 million (2011 -£63.0 million).
- £40.9 million of investment in new players and extended contracts pushed amortisation charges up to £19.9 million (2011 – £17.3 million)
- The resulting profit from player trading was £23.2 million (2011 – £46.1 million).
- Turnover from football fell to £106.1 million (2011 – £113.5 million) as a consequence of there being four fewer home fixtures
- As a result of this change in football turnover and increased wage costs, operating profits (before depreciation and player trading) from football decreased to £5.0 million (2011 – £15.2 million).
- Property revenues were boosted to £32.3 million (2011 – £3.2 million) by the sale of the market housing site at Queensland Road. However, the Queensland Road sale was essentially at break even in profit and loss terms. Overall operating profits from property increased to £1.9 million (2011 – £0.5 million).
- The Group has no short-term debt and continues to have a robust financial platform from cash reserves of £123.3 million (2011 – £115.2 million).
- Confirmed extension to Emirates partnership worth up to £150 million
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.”