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| Arsenal score 54% rise in profit | |
| (about 3 hours later) | |
| 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. | 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. | 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. | Arsenal's broadcasting income was up £6.5m at £24.3m. |
| Summer tournament | Summer tournament |
| Match day income had risen more than £3m to £41.4m. | 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 | 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. | 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. | "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%. | 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." | "We were always advised by them that they would build their stake to 25% but we have a lockdown, which makes us bullet-proof." |