Arsenal Holdings plc has announced its financial results for the year ended May 31, 2015:

Group profit before tax was GBP24.7 million (2014 - GBP4.7 million).

The Group’s total turnover amounted to GBP344.5 million (2014 - GBP301.9 million).

Turnover from football increased to GBP329.3 million (2014 - GBP298.7 million) with strong growth in Commercial activity driven by the new kit partnership with PUMA.

Revenues of GBP103.3 million (2014 - GBP77.2 million) from Commercial activities (including retail and licensing) exceeded £100 million for the first time.

Matchday revenue of GBP100.4 million (2014 - GBP100.2 million) is now ranked behind both Broadcasting and Commercial as a source of revenue for the club.

Significant investment in the squad with a record level of expenditure on player acquisitions (GBP114.0 million) which has in turn resulted in a higher amortisation and higher wage costs in the profit and loss account.

Wage costs rose to GBP192.2 million (2014 - GBP166.4 million) and represented 58.4% (2014 – 55.7%) of football revenues.

Profit on sale of player registrations amounted to GBP28.9 million which was significantly higher than the prior period comparative (2014 - GBP6.9 million).

Group’s property business made a contribution to pre-tax profits of GBP13.4 million (2014 - GBP0.9 million) having benefited from a one-off profit share bonus in relation to a previously sold development site.

The Group has no short-term debt and its cash reserves, excluding the balances designated as debt service reserves, amounted to GBP193.1 million (2014 - GBP173.3 million).

The liabilities for player acquisitions are in part payable in instalments and transfer creditors rose to GBP80.5 million (2014 - GBP38.3 million).

Click here for the full results for the year ended May 31, 2015

Commenting on the results for the year, the club’s chairman, Sir Chips Keswick, said: “The club has had a successful year both on and off the pitch. We are in a robust position across all the key areas of our activities and we look forward with optimism and strong belief that we are on a positive trajectory.”

The club’s chief executive officer, Ivan Gazidis, said: “Everyone at the club is determined to build on the FA Cup successes of the past two seasons. We continue to look to develop every aspect of our operations while remaining true to our principles around being self-funding, investing in youth, our style of play and our commitment to our fans and to our place in the community. We are focused on delivering more success.”

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