Arsenal Football Club have today announced their financial records for the last year.
The financial year ended back in May 2013 and below you can see some of the key and crucial figures which have also been published on the club’s official website.
– Group profit before tax was £6.7 million (2012 – £36.6 million)
– Profit on sale of player registrations amounted to £47.0 million (2012 – £65.5 million)
– One-off charges related to the impairment of certain player registrations and associated costs amounted to £10.0 million (2012 – £5.5 million)
– £58.7 million of investment in new players and extended contracts pushed amortisation charges up to £41.3 million (2012 – £36.8 million)
– Turnover from football increased to £242.8 million (2012 – £235.3 million) driven mainly by commercial activity including the Club’s extended partnership with Emirates
– Taking account of increased costs, principally wage costs, operating profits (before depreciation and player trading) from football decreased to £25.2 million (2012 – £32.3 million)
– Property revenue rose to £37.5 million (2012 – £7.7 million) inclusive of the sale of the market housing site at Queensland Road. However, the Queensland Road sale was essentially at break even in profit and loss terms. Overall operating profits from property increased to £4.4 million (2012 – £2.2 million)
– The Group has no short-term debt and continues to have a robust financial platform from cash reserves, excluding the balances designated as debt service reserves, of £119.7 million (2012 – £120.1 million)
The Arsenal chairman, Sir Chips Keswick, had this to say about the financial results.
“We must continue to grow commercially to provide the Club with the best opportunity to achieve success and we must do this in a way which remains true to our values and which ensures and protects the long-term sustainability of the Club.
“We face a competitive landscape across the top of the Premier League and across Europe’s elite clubs which is tougher than ever. Despite fair play initiatives the financial competition for top players remains intense and transfer prices and player wages continue to move ever higher.
“It is therefore positive that the strong financial platform we have created in recent years allows us to continue to be competitive at the highest level.”