Pre-tax profit at Arsenal rose to £19.3m sterling from £10.6m and cash reserves at the English Premier League club soared in the last financial year.
The FA Cup winners, who are building a new stadium in north London, said net debt increased to £153.3m in the year to the end of May from £141.3m in 2004. However, their cash reserves rose to £63.1m from £17.6m, which the company attributed to the success of its finance strategy.
The club's football business maintained turnover at £115.1m, despite a fall in broadcasting income.
Arsenal spent over £94m on its new Emirates Stadium, due to be opened by the start of the 2006/7 season, in the 2004/5 financial year. Arsenal's move from their 38,000 capacity Highbury ground, the club's home since 1913, to the 60,000 capacity Emirates Stadium is expected to increase match-day income by about £20m a season.
