Follow oohtobeagooner on Facebook and Twitter for more latest Arsenal news, match analysis, transfer news, injury news, team news and rumours from reliable sources around the World.
Arsenal chairman Sir Chips Keswick believes reduction in transfer profits is the reason for the £3.4m loss the club announced for the six months ending 30 November last year, as per Teamtalk.
The club recorded a £6m profit during the same period in 2014 but has recorded a £3.4m loss in 2015 and the Chairman believes reduction in transfer profits in 2015 was responsible. Although, the club had the Turnover increased with almost £10m from £148.5m to £158m with cash reserves of £159.4m.
Despite the large cash reserve, there was relative inactivity in the last two transfer window with Petr Cech the only summer signing and Mohammed Elneny the only player to move to the Emirates in January but Keswick believes Arsenal have the resources and ability within the club to be successful off the pitch and also on the pitch as regards winning trophies.
“This has been an unpredictable Premier League season thus far,” he said.
“What is important is that we are in contention and I am sure we have the resources and ability within the squad to sustain a strong challenge.
“The end-of-season run-in is going to be an exciting one and I am confident we will be very much at the centre of the action.
“We continue to see robust growth around our commercial revenues and build our support globally through our marketing and media channels.
“The result for the period has been impacted by a reduction in transfer profits but this reflects the overall stability we have within the squad which, in my view, is a positive factor for the club.”
Follow oohtobeagooner on Facebook
for more latest Arsenal transfer news, injury news, team news and rumours.