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MUMBAI:
English soccer club Arsenal has reported a pre-tax profit
of £17.8 million for the first six months of its fiscal
ended 30 November 2012, down from £49.5 million for
the same period in the previous fiscal.
There
were fewer home games and the club made less money from selling
big names. It made £42.5 million from selling players
such as Robin van Persie. But it spent £40.9 million
to sign players like Santi Cazorla and Olivier Giroud.
The
Club has extended contracts for Jack Wilshere, Theo Walcott,
Kieran Gibbs, Aaron Ramsey, Alex Oxlade-Chamberlain and Carl
Jenkinson. More recently, the Club has signed Nacho Monreal
from Malaga.
Football
turnover dropped from £113.5 million to £106 million
as a result of four fewer home fixtures compared to the same
period last year. However, overall operating profits from
the Club's property operation increased to £1.9 million
versus £0.5 million in 2011. The club has no short-term
debt and continues to have a robust financial platform from
cash reserves of £123.3 million. These were at £115.2
million in 2011.
The
club's chairman Peter Hill-Wood said: "Our ability to
compete at the top of the game here and in Europe is underpinned
by our financial performance which gives the Club strength
and independence.
"Our
desire is to make everyone connected with Arsenal proud of
the Club. We know that comes through winning trophies but
also through the way we do things and that will remain our
constant guide."
The
club had extended its partnership with Emirates which will
be worth up to £150 million. This comes in addition
to deals with Airtel and Malta Guinness and additional sponsorship
linked to the pre-season tour.
Hill-Wood
added, "The Emirates partnership is one of the biggest
sponsorship deals in the game and is an endorsement of the
commercial approach we are taking."
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