Arsenal have confirmed the financial results for the the six months up to November 30, 2014.
Reflecting on the results, chairman Sir Chips Keswick highlighted that record outgoings on player acquisition and wages had been balanced well by increased commercial revenue.
“Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club.
“Crucially, this investment remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the applicable regulatory regimes.”
In light of this week’s humbling at the hands of Monaco, Keswick also touched on the form of Arsene Wenger’s squad calling for more consistency in the final third of the season.
“On the field, the team has produced some strong results and the squad is looking fit and better balanced. However, we need to find our best form on a more consistent basis as we approach, what I hope will be, an exciting end to the season.”
The key points, which firmly underline our adherance to FFP requirements, are below:
- Turnover from football, predominantly thanks to the commercial deal with Puma, increased to £148.5 million, up from £135.9 million in 2013.
- A record level of expenditure on player acquisitions (£93.7 million) which in turn means higher amortisation and higher wage costs in the profit and loss account.
- Profit on sale of player registrations amounted to £26.7 million, increased from £6.1 million in 2013.
- Arsenal Holdings plc recorded an overall profit before tax of £11.1 million compared to a loss of £2.2 million at the same time last year.
- Cash reserves stand at £138.8 million.