Arsenal Holdings plc has announced its financial results for for the six months ended November 30, 2015
• Turnover from football increased to £158.0 million (2014 - £148.5 million) with growth in Uefa Champions League broadcasting distributions and commercial activity led mainly by partnerships.
• Stability in the playing squad meant profits on sale of player registrations amounted to only £0.3 million which was significantly lower than the prior period comparative (2014 - £26.7 million).
• Amortisation charge on player registrations further increased to £29.2 million (2014 - £25.6 million).
• The Group’s property business recognised the final instalment of the Queensland Road sales overage but otherwise activity was minimal with profits amounting to £1.8 million (2014 - £0.4 million).
• The Group recorded an overall loss after tax of £3.4 million (2014 – profit of £6.2 million).
• First period of reporting under FRS 102 and comparative figures restated. Minimal impact on the profit reported for this half year.
• The Group has no short-term debt and its cash reserves, excluding the balances designated as debt service reserves, amounted to £135.9 million (2014 - £138.8 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.
• Significant uplift of Premier League broadcasting revenues with effect from the start of next financial year.
Commenting on the results for the six months, the club’s chairman, Sir Chips Keswick, said: “This has been an unpredictable Premier League season thus far. What is important is that we are in contention and I am sure we have the resources and ability within the squad to sustain a strong challenge.
“The end of season run-in is going to be an exciting one and I am confident we will be very much at the centre of the action.
“We continue to see robust growth around our commercial revenues and build our support globally through our marketing and media channels. The result for the period has been impacted by a reduction in transfer profits but this reflects the overall stability we have within the squad which, in my view, is a positive factor for the club.”
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