Related News
Arsenal property sales clear debt, boost results
Source: Agencies |
September 24, 2010, Friday
|
Online Edition
Online Edition
ARSENAL Football Club posted record full-year profit before tax of 56 million pounds (US$87.76 million), due to the sale of property at the old Highbury site and the sale of players such as Eduardo and Jay Simpson.
Arsenal said their full-year accounts showed the club was in good financial health and could continue to invest in the team, staff and training facilities. The group's property business is now debt free and generating surplus cash.
Arsenal, currently second in the English Premier League behind champions Chelsea, said today they had generated 157 million pounds of revenue from property, allowing them to repay 130 million pounds of bank loans.
The overall level of group net debt was also reduced to 136 million pounds.
"The most pleasing aspect of these results is that the returns generated in the property business during the year, particularly at Highbury Square, have allowed us to repay 130 million pounds of bank loans and significantly reduce the group's overall net debt," non-executive Chairman Peter Hill-Wood said in a statement.
The club, which finished last season in third place, said it had made a profit from player trading of 13.6 million pounds, compared with a profit of 2.9 million pounds in 2009.
Arsenal said their full-year accounts showed the club was in good financial health and could continue to invest in the team, staff and training facilities. The group's property business is now debt free and generating surplus cash.
Arsenal, currently second in the English Premier League behind champions Chelsea, said today they had generated 157 million pounds of revenue from property, allowing them to repay 130 million pounds of bank loans.
The overall level of group net debt was also reduced to 136 million pounds.
"The most pleasing aspect of these results is that the returns generated in the property business during the year, particularly at Highbury Square, have allowed us to repay 130 million pounds of bank loans and significantly reduce the group's overall net debt," non-executive Chairman Peter Hill-Wood said in a statement.
The club, which finished last season in third place, said it had made a profit from player trading of 13.6 million pounds, compared with a profit of 2.9 million pounds in 2009.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
