Arsenal have announced a pre-tax profit of £12.6m in their latest half-yearly results. Turnover for the period - the six months ending November 30, 2016 - was up from £158m to £191m on 2015, mainly due to the increase in broadcasting revenue from Sky and BT Sport. The improved figures come despite a record summer transfer spend of £86.6m on the likes of Shkodran Mustafi, Granit Xhaka and Lucas Perez, although the club still has to fork out £42m in deferred transfer payments over the next year. The club has also ringfenced £23.3m from its reserves - now down to £123.7m from £226.5m - for 'non-football purposes', believed to be a contingency fund in the event that the Gunners fail to...
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