Arsenal slides into pre-tax loss of £2.2m
Premier League football club Arsenal made a loss of £2.2m for the six months to the end of November, a sharp fall from the £17.8m profit it made in the same period a year ago.
Turnover from football increased to £136m, up from £106.1m during the same period in 2012.
However, profit from trading players suffered a steep decline, from £42.5m to £6.1m.
Before player trading and depreciation, operating profits were £22.2m.
Arsenal are currently in second place in the league, one point behind Chelsea.
The club has confirmed a five-year sponsorship deal with Puma as its new kit partner, which will come into force from the start of the next financial year.
The club's chairman, Sir Chips Keswick, said: "We believe we are in a strong position to take the club forward, both in the short term and beyond, and to deliver future on-field success."