Key figures

* Operating profit (before depreciation and player trading) of £12.6m (2009 – £29.3m) with, as expected, a reduction in the contribution from property.



* Sale of 50 apartments at Highbury Square generated revenue of £22.5m (2009 – 261 apartments sales generated £96.6m) and an operating profit from property of £3.3m (2009 - £11.3m) reflecting the lower number of apartments now left for sale.



* Property business continues to be debt free with all sales contributing to Group’s cash position of £110.4m (2009 - £101.0m).



* Further significant commitment to a determined policy of investing in the team with the re-signing of several key first team players and Arsène Wenger as the Club’s Manager.



* Football operating profits (before depreciation and player trading) of £9.3 million (2009 - £18.0m) reflect this increased investment in football wages and also timing differences in the number of home games played (2010 - 10 home matches in first half of 28 matches, so far confirmed, for full year / 2009 – 12 of 27).



* Significantly reduced profit on player sales of £4.0m compared to £33.9m for the prior year.



* Changes in property and player trading, which are essentially one-offs, impact overall result for the period – loss after tax of £2.5m (2009 – profit of £29.2m).