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Arsenal Announces Record Profit After Property Sales

Arsenal Holdings Plc’s fiscal-year profit increased 73 percent to a record 61 million pounds ($96 million) as the English soccer club sold apartments on the site of its former stadium.

Sales rose 21 percent to 379.9 million pounds in the year ending May 31, the London team said today in a PRNewswire statement. That’s the highest recorded by an English soccer team, allowing Gunners to reduce their net debt by more than half to 135.6 million pounds.