ARSENAL made a pre-tax profit of £17.8m according to interim accounts released yesterday – down from £49.5m a year earlier as the club raked in less from selling big name players and played four fewer home games during the period.
Chairman Peter Hill-Wood used the results, which record the six months ending 30 November 2012, to assure fans that the club is still gunning for success on the pitch.
The accounts cover the period during which the north London football giant sold star striker Robin van Persie to Manchester United, the latest exit to frustrate its supporters. Profit from player trading came in at £23.2m, again driving Arsenal comfortably into the black.
A year earlier, player trading earnings were £46.1m, partly due to the departures of Cesc Fabregas, Samir Nasri and Gael Clichy.
Revenue for the latest period shot up to £138.4m, yet this was flattered by £32.3m from sales of properties that the club has been developing since moving to the Emirates Stadium in 2006.
Arsenal announced an extended sponsorship deal with Emirates at the end of last year. Yesterday’s accounts said the new deal could earn “up to £150m” for the club.