 Arsenal say the move to the Emirates Stadium is already paying dividends |
Arsenal have announced a loss of �6.2m for the six months up to the end of last November. The Gunners cite one-off exceptional costs of �21.4m relating to their move to the Emirates Stadium as the reason.
But during the same period, turnover rocketed by almost 77%, which Arsenal attribute to increased ground capacity.
Chairman Peter Hill-Wood said: "The stadium project's objective was to provide Arsenal with financial strength to compete at the highest level."
Over the same period last year, the Gunners made a �9.6m profit after tax.
Pre-tax profits before net finance charges are up year on year from �14.3m to �19.6m and operating profits before depreciation and player trading leaped by 150%, from �8m to �20m.
Turnover also rocketed from �57m to �100.8m.
Hill-Wood added: "I believe the results for the group's first period in its new home demonstrate we have already achieved the milestone of providing the financial strength.
"The stadium has provided improved match-day facilities and tickets for a far great number of supporters."
Arsenal do not expect to reach their final targets for operational efficiency at the new stadium until the end of the season.
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