| Updated:
Arsenal shoot way to £37m pre-tax profits
ARSENAL bucked the trend in the typically loss-making world of top flight football yesterday, announcing a £36.6m pre-tax profit for financial year 2011-12.
London’s biggest club’s pre-tax earnings were up from £14.8m the previous year, although the rise was considerably boosted by player sales.
Retained profit came in at £29.6m. Revenues were down from £255.7m to £243m, yet this was due to lower property sales. Turnover from football activities rose from £225.4m to £235.3m.
Two thirds of Arsenal is owned by American businessman Stanley Kroenke, while billionaire Alisher Usmanov owns nearly 30 per cent.