Arsenal post pre-tax profit of £49.5m for second six months of 2011
Published 27/02/2012 | 12:52
ARSENAL'S decision to sell Cesc Fabregas and Samir Nasri helped them report a huge pre-tax profit of £49.5 million for the six months to the end of November.
Arsenal, who lost £6.1m over the same period in 2010, might have made only a small profit but for the controversial departures of Fabregas and Nasri last summer for a reported £54m.
Arsenal enjoyed an overall profit on player trading of £46.1m, having made a loss of £5.9m the previous year.
They made £63m overall in player sales, while there was an investment of £74.7m in new arrivals and contract extensions, the cost of both being spread evenly over the length of an individual's deal.
Arsenal's cash reserves also swelled to £115.2m, up from £110.4m, with their turnover from football rising to £113.5m from £97.6m.
Chairman Peter Hill-Wood said: "We are proud of Arsenal's record and consistency over many seasons and have the foundations in place, at every level of the club, to ensure we remain a force in the seasons ahead."