Arsenal score 54% rise in profit

Arsenal's new Emirates Stadium has a 60,000-seat capacity

Arsenal have seen their half-year profits rise 54%, boosted by the latest Premier League TV rights deal and the success of the new Emirates Stadium.

The club, which tops the Premier League, made a pre-tax profit of £20m in the six months to the end of November, up from £12.6m in 2006.

It was also a profitable period for player transfers, including the June departure of Thierry Henry for £16.1m.

Arsenal's broadcasting income was up £6.5m at £24.3m.

Summer tournament

Match day income had risen more than £3m to £41.4m.

We have had a very satisfactory start to the financial year Arsenal chairman Peter Hill-Wood

The club's revenues were boosted by last summer's Emirates Cup tournament, which featured Arsenal, Inter Milan, Paris Saint Germain and Valencia.

However, Arsenal's overall turnover dropped to £97m from £100.8m a year earlier, due to a near 70% decline in revenues from property deals.

"We have had a very satisfactory start to the financial year," said Arsenal chairman Peter Hill-Wood.

Earlier this month an investment firm co-owned by Russian billionaire Alisher Usmanov revealed it had increased its stake in Arsenal to 24%.

But Arsenal's managing director Keith Edelman said he was confident that an agreement between major shareholders would prevent a takeover.

"We were always advised by them that they would build their stake to 25% but we have a lockdown, which makes us bullet-proof."