Arsenal chiefs pleased with profits report

Arsenal chiefs are delighted to have posted impressive profit figures.

Arsenal's decision to sell Cesc Fabregas and Samir Nasri helped them report a huge pre-tax profit of £49.5million for the six months to the end of November.

The Gunners, who lost £6.1million over the same period in 2010, might have made only a small profit but for the controversial departures of Fabregas and Nasri last summer for a reported £54million.

Chairman Peter Hill-Wood told the club's official website, "We are proud of Arsenal's record and consistency over many seasons and have the foundations in place, at every level of the club, to ensure we remain a force in the seasons ahead."

Chief executive Ivan Gazidis said: "It's important to acknowledge that the most important thing for this football club, the most important thing for our fans, and the most important thing for the board and the people that work at the club is how we do on the pitch.

"We have a healthy cash balance of £115million for the half year.

"But it's important to understand that not all that money's available to invest in transfers."

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