Arsenal Full-Year Profit Doubles on Sales of Fabregas, Nasri
Arsenal Holdings Plc (AFC)’s fiscal full- year profit doubled as the London soccer team benefited from the sales of Cesc Fabregas and Samir Nasri.
Net income rose to 29.6 million pounds ($48 million), or 475 pounds a share, in the year ended May 31, from 12.6 million pounds, or 203 pounds, the operating company said today in a PRNewswire statement.
Arsenal made 26 million pounds from selling players including club captain Fabregas to Barcelona and French winger Nasri to Manchester City in the fiscal year, compared with a loss of 14.6 million in the year-earlier period.
The team had 153.6 million pounds in cash, down slightly from the year-earlier period, and had debts of 98.9 million.
To contact the editor responsible for this story: Christopher Elser at email@example.com