Profits hit record high at Arsenal

first_img Show Comments ▼ whatsapp KCS-content Share ARSENAL will today announce record pre-tax profits of around £55m, an increase of £10m, as the football club continues to reap the rewards of moving to the Emirates Stadium.City A.M. understands that the strong performance of Arsenal Holdings’ property development arm has driven an increase in revenue. The north Londoners’ continued success off the field will see them record an increase in turnover for the fourth successive year since leaving Highbury for their new home.Pre-tax profit is significantly up on last year’s figure of £45.5m for the year ending 31 May. That improvement has been aided by strong sales of apartments in the group’s Highbury Square Development. It is understood that only a very small number of the 655 residences in the club’s former stadium remain unsold.The success of that project is thought to have enabled the club to pay off the remaining debt on the development, which at one stage totalled £133m, six months early.Revenue has also been boosted by on-field results, with a Champions League run earning the club £27m in prize money and revenue. Premier League income rose past £51m, while player trading is expected to show a profit of around £30m.Manchester United reported pre-tax profits of £48.2m in January while league champions Chelsea announced a £44.4m loss in December. Thursday 23 September 2010 8:40 pmcenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Profits hit record high at Arsenal whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img