Arsenal's Financial Success - 13/09/2004

Arsenal's success on the pitch has been mirrored in its latest financial results. Pre-tax profits more than doubled in the year to 31 May. The club also revealed that its £357m new stadium project is ahead of schedule. Pre-tax profits rose from £4.5m to £10.6m. Operating profits rose from £25.3m to £36.2m before taking into account player trading costs of £19.6m. Gate receipts rose from £27.9m to £33.8m while broadcasting income rose from £51.8m to £59.8m. The improved financial performance was achieved despite a rise in the club's wage bill from £60.8m to £69.9m, partly the result of increased player bonuses.