Arsenal unveil half-year profit rise of 55 per cent
22-02-2008
Premier League leaders Arsenal have reported a 55 per cent increase in half-year profits.
The north London club said in the six months ending November 30th they made a profit of £20 million, compared to the £12.9 million worth of earnings in the corresponding period the previous year.
Contributing to this increase was a £6.5 million rise in broadcasting revenue to £24.3 million, while the Gunners also hailed the financial impact of the inaugural Emirates Cup.
Held during the pre-season, the friendly tournament saw Serie A champions Inter Milan, Paris Saint Germain and Valencia visit the Emirates Stadium.
Arsenal won the trophy themselves, with the competition helping to boost match-day income to £41.4 million.
Commenting on the results, Arsenal's non-executive chairman Peter Hill-Wood said: "We have had a very satisfactory start to the financial year driven by the new Premier League TV deals and the inaugural Emirates Cup tournament which have increased revenues in our core football business."
Yesterday Chelsea chief executive Peter Kenyon claimed the Blues had overtaken Arsenal as the second highest-earning Premier League team, although both clubs trail Manchester United in the profit stakes.
With 26 games played, Arsenal occupy first place in the Premier League table, five points ahead of United and a further three in front of Chelsea.
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