Club announces financial results

Club announces financial results

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Arsenal have announced the financial results for the period ending November 30th 2013.

The key points are below:

  • Turnover from football increased to £136.0 million (2012 – £106.1 million)
  • Match day income increased to £45.0 million (2012 – £37.8 million)
  • Broadcasting revenue was boosted to £52.0 million (2012 – £40.1 million)
  • Commercial and retail revenues rose to £38.4 million (2012 – £27.7 million)
  • Operating profits (before depreciation and player trading) from football increased to £22.2 million (2012 – £4.4 million).
  • Operating profits from property amounted to £0.7 million (2012 – £1.9 million).
  • Profit on sale of player registrations amounted to £6.1 million
  • Group loss before tax was £2.2 million (2012 – profit of £17.8 million).

The club has also announced that it has no ‘short term debt’ and that ‘ash reserves, excluding the balances designated as debt service reserves, amounted £120.6 million’.

In the Chairman’s statement, Sir Chips Keswick touched on new commercial revenue, saying, “We also have significant momentum off the field in terms of growing our revenues. The financial results for the first half of the year, which are considered in more detail in the Financial Review section of this report, show that the Club has recorded significantly increased revenue across each of its key areas of activity – match day, broadcasting and commercial. This is excellent news.

“You will have seen last month’s announcement of our new partnership with PUMA. Whilst I am unable to state the figures publicly, it is fair to say this is the biggest partnership agreement the Club has ever completed.

“The financial impact, in terms of profits and cash-flow, will not begin to be realised until the start of the next financial year but it will clearly provide a further significant boost to our income and further strengthen our financial position.

We are delighted to welcome PUMA to the Arsenal family and we look forward to a successful partnership.

“The fact that PUMA intend to use Arsenal as one of their primary assets around the world will undoubtedly help with our ambitions to grow the Club’s profile on a global basis. We all look forward to seeing the new kits when they are launched in July.

“In addition to Puma, we have also welcomed Gatorade, Huawei, Cooper Tires Europe, Lanvin and JEANRICHARD to the Club as global partners and BT Sport as a regional partner.

“We believe we are in a strong position to take the Club forward both in the short term and beyond and to deliver future on-field success.

“Our majority shareholder Mr Stan Kroenke, myself and the rest of the Board, our manager and all our staff are clear in that aim.”