Arsenal Announce £4.7million Annual Profit, £173million Cash Reserves

Arsenal have posted a £4.7million profit and reported increased
turnover in their latest financial figures released on Friday.

The results, which covered the year ended May 31, 2014, also revealed
the club had cash reserves of £173million.

The profit was down £2million from the corresponding 2013 results with
turnover up to £301.9million from £280.4million, driven by improved
broadcasting income, new commercial deals and their FA Cup success.

Wages were up by £12million to £166.4million, representing 55.7 per
cent of football revenue, with key players such as Theo Walcott, Aaron
Ramsey and Jack Wilshere having all signed new, improved contracts.

For the first time in several seasons, Arsenal did not sell any star
players last season - and indeed went on to sign Chile forward Alexis
Sanchez after the World Cup as well as France defender, Mathieu
Debuchy and England forward, Danny Welbeck from Manchester United on
transfer deadline day.

Profit on sale of player registrations up to May 31 was reduced to
£6.9million from £47million in the same period for 2013.

With Arsenal's £390million switch to a new 60,000-seater home at
Ashburton Grove in 2006 being funded by a long-term fixed-rate bond
repayment, the group reported cash balances up to £173.3million, from
£119.6million last year.

Chief Executive, Ivan Gazidis, vowed the board would continue to
support manager Arsene Wenger in aiming to keep Arsenal challenging
for honours.

"The club is in excellent shape, both on and off the pitch. We are
proud of our 11th FA Cup success and the reward this represents to our
fans in the Arsenal community around the world.

"There is always more to do and, whether investing in the team or in
training facilities which will provide long-term benefit to the club,
our guiding principles are the same and our focus is clear, on
delivering more on field success.

"This remains the shared ambition of our majority shareholder, Stan
Kroenke, the board and everyone connected with the club. We are well
placed to deliver against those ambitions."

The directors are responsible for the maintenance and integrity of the
corporate and financial information included on the company's website.
Legislation in the United Kingdom governing the preparation and
dissemination of financial information differs from legislation in
other jurisdictions.

Commenting on the results for the year the club's Chairman, Sir Chips
Keswick, said, "Our revenues have exceeded £300 million, underpinned
by TV and the significant progress made on our commercial agenda, and
our improved financial position has allowed us to supplement the squad
with important new signings. Our ambition is to put Arsenal Football
Club at the pinnacle of the game here and in Europe. We all want to
savour a repeat of the joys of last May."