Arsenal have announced their financial results for the year ending 30th November 2014, declaring a profit of £11.1m has been made.

The Gunners, measuring themselves against the same period last season, have reported turnover up to £148.5m from 2013's level of £135.9m. The increase has been credited to strong commercial growth, helped in no small part by the club's kit deal with Puma.




Arsene Wenger's men made squad investment worth £93.7m on players, which the club confirm does mean higher wage costs. However, Arsenal also confirm profits on the sale of player registrations hit the £26.7m mark, much higher than the same period last year, during which it was £6.1m.

 


In a healthy financial position, Arsenal have also reported no short term debt and cash reserves of a substantial £138.8m.

Arsenal chairman Sir Chips Keswick has been quick to welcome the results, telling his club's official site: "Our commitment to investment in the squad was evidenced by a record level of expenditure on players joining the club.

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"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."

Arsenal Key Financial Points

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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