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Arsenal became the first British club to bring in more than £200 million in turnover last season, the club's latest figures have shown.

The Gunners can now stake their claim to be the country's richest club after announcing that turnover has increased by 46 per cent to £200.8 million in the year ending May 31st 2007.

Such an impressive increase coincides with the north London outfit's first season at their new 60,000-capacity Emirates Stadium, following the move from their traditional Highbury home where only 38,000 people could be accommodated.

The club also revealed that operating profits, not including player transfers and depreciation, had soared by 274 per cent to £51.2 million, having been £13.7 million a year earlier.

Average matchday revenues from games at the Emirates were £3.1 million, the club said, which represents double the total takings from a normal game at Highbury.

The positive financial figures come at a rosy time for the Gunners, who are currently sitting top of the Premiership with a game in hand and have recently seen manager Arsene Wenger extend his current contract until 2011.

But they also come as Uzbek businessman Alisher Usmanov seeks to boost his stake in the club, having overseen his investment vehicle Red and White Holdings' purchase of former vice-chairman David Dein's share in the club and increased its stake further to 21 per cent last week.

The current board said at the end of last season that they would not be selling any shares for the next 12 months in order to quell rumours of a possible takeover bid by US billionaire Stan Kroenke.

Commenting on the figures, managing director Keith Edelman told Arsenal TV that they showed that Arsenal "[do not] have any need, and these financial results prove it, or requirement of any outside investment".

"I think as it's well known Red and White Holdings now hold 21 per cent," he added.

"The board own 45.5 per cent and the board have clearly made their position clear that we're not going to sell the club so I think in terms of them increasing their shareholding even from where it is today it is a bit of an irrelevance in terms of how we are going to run the club in the future."

On the results themselves, current chairman Peter Hill-Wood added: "The best way that Arsenal can continue to deliver success is by maintaining a business that pays its own way.

"This philosophy helped establish our objectives for the club's move away from Highbury and Emirates Stadium now provides Arsenal with the increased income, profitability, cash generation and firm financial foundations from which we will continue to build trophy-winning Arsenal teams for many years to come."