Business
Half-yearly Report
Half-yearly Report.
About this update from H-power Plc
[{"type":"text","content":"\n \nArsenal Holdings plc\n\nResults for the six months ended 30 November 2015\n\nARSENAL ANNOUNCE HALF YEAR RESULTS\n\n\nTurnover from football increased to £158.0 million (2014 - £148.5 million) with growth in UEFA Champions League broadcasting distributions and commercial activity led mainly by partnerships.\n\nStability in the playing squad meant profits on sale of player registrations amounted to only £0.3 million which was significantly lower than the prior period comparative (2014 - £26.7 million).\n\nAmortisation charge on player registrations further increased to £29.2 million (2014 - £25.6 million).\n\nThe Group’s property business recognised the final instalment of the Queensland Road sales overage but otherwise activity was minimal with profits amounting to £1.8 million (2014 - £0.4 million).\n\nThe Group recorded an overall loss after tax of £3.4 million (2014 – profit of £6.2 million).\n\nFirst period of reporting under FRS 102 and comparative figures restated. Minimal impact on the profit reported for this half year.\n\nThe Group has no short-term debt and its cash reserves, excluding the balances designated as debt service reserves, amounted to £135.9 million (2014 - £138.8 million).\n\nOverall result for the year expected to be fully compliant with all of the requirements of both the Premier League and UEFA financial regulatory regimes.\n\nSignificant uplift of Premier League broadcasting revenues with effect from the start of next financial year.\n\n\nCommenting on the results for the six months, the Club’s Chairman, Sir Chips Keswick, said:\n\n“This has been an unpredictable Premier League season thus far. 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.\n\nWe continue to see robust growth around our commercial revenues and build our support globally through our marketing and media channels.\n\nThe 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.â€\n\nCHAIRMAN’S STATEMENT\n\nThe end of season run-in is going to be an exciting one ...