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Last Updated: Friday, 22 February 2008, 11:50 GMT
Arsenal score 54% rise in profit
Arsenal's Emirates Stadium
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."



SEE ALSO
Usmanov nets more Arsenal shares
15 Feb 08 |  Business
Arsenal bullish over 200m income
24 Sep 07 |  Arsenal
Usmanov aims to up Arsenal stake
21 Sep 07 |  Business
Usmanov ups the ante at Arsenal
18 Sep 07 |  Arsenal
Usmanov increases Arsenal stake
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Arsenal not for sale - Hill-Wood
10 Sep 07 |  Arsenal

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