Arsenal Holdings plc results for the six months ended November 30, 2014
- Turnover from football increased to £148.5 million (2013 - £135.9 million) with strong growth in commercial activity driven by the new kit partnership with PUMA.
- Significant investment in the squad with a record level of expenditure on player acquisitions (£93.7 million) which has in turn resulted in a higher amortisation and higher wage costs in the profit and loss account.
- Profit on sale of player registrations amounted to £26.7 million which was significantly higher than the prior period comparative (2013 - £6.1 million).
- Minimal activity during this half year in the Property side of the Group.
- Group recorded an overall profit before tax of £11.1 million (2013 – loss of £2.2 million).
- The Group has no short-term debt and its cash reserves, excluding the balances designated as debt service reserves, amounted £138.8 million (2013 - £120.6 million).
- The liabilities for player acquisitions are in part payable in instalments and transfer creditors rose to £82.8 million (2013 - £37.9 million).
- Overall result for the year expected to be fully compliant with all of the requirements of both the Premier League and UEFA financial regulatory regimes.
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Commenting on the results for the six months, the club’s chairman, Sir Chips Keswick, said:
“Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club. Crucially, this investment remains at a level which is consistent with our principle of affordability and which is financially sustainable in accordance with the applicable regulatory regimes. On the field, the team has produced some strong results and the squad is looking fit and better balanced. However, we need to find our best form on a more consistent basis as we approach, what I hope will be, an exciting end to the season.”
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