Record profit for Gunners

LONDON - Arsenal announced a record profit after tax yesterday of £35,2million (R419,2million) from results for the financial year ending May 31.

LONDON - Arsenal announced a record profit after tax yesterday of £35,2million (R419,2million) from results for the financial year ending May 31.

The turnover of the Gunners' parent holding company, which also has property interests at the Highbury Square development of their former stadium, went up to £313,3million (R3,7billion) from £223million (R2,65billion) for the same period last year.

Arsenal's move to the Emirates Stadium in 2006 - funded by a long-term loan at a fixed interest rate - continues to pay dividends, with matchday revenue increased to £100,1million (R1,19billion) from £94,6million (R1,13billion which was mainly down to progress to the semifinals of both the Champions League and FA Cup. Operating profits, before depreciation and player trading, in the football business were up from £59,6million (R709,7million) to £62,7million (R746,6million).

The Highbury development remains robust despite the financial climate. But Arsenal chairman Peter Hill-Wood knows the importance of consistency on the pitch, which ultimately drives all other parts of the business. - Sapa-AFP

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