Hill-Wood content that progress is being made

Arsenal’s non-executive chairman Peter Hill-Wood has declared himself happy that the club are moving in the right direction, despite their financial accounts for the year to 31st May 2011 – released yesterday – revealing a drop in both revenue and profit from the previous year, according to goal.com.

Specifically, the club reportedly turned over £255.7m during the period May 2010-2011, down from £379.9m in the preceding 12 months, whilst pre-tax profit fell from £56m to £14.8m, figures which Hill-Wood focused upon in a positive light.

We have had a robust financial performance, reporting another set of full year profitable results,” said Hill-Wood, an assessment echoed by his colleague Ivan Gazidis, with the club’s chief executive keen to convey the overall prosperity of Arsenal. “We are making progress on all fronts and the club starts its 125th year in a strong position.

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