City&FinanceBriefing London Lite Monday, 28 September 2009 45 Gunners net 35 million profit record ARSENAL today announced record profits of 35.2 million despite the economic downturn, prompting chief executive Ivan Gazidis to say the club is now superbly posi- tioned for the future. Its annual financial figures for the year ending 31 May 2009 revealed a profit increase of 6.5 million on the previous 12-month period, which will almost certainly mean manager Arsene Wenger will have funds available if he wants to strengthen his squad in the January transfer window. Turnover including property sales increased to 313.3 million, but only 445 of the 655 apartments in Highbury Square, the housing development built on the clubs former ground, have been sold because of the credit crunch. This includes todays announce- ment that London & Stamford Property has bought a block of apartments, predominantly in the old North Stand, for 41.4 million. Although 208 sales this year rais- ing 88 million, the club will not complete the repayment of a 133.5 million bank loan by next April as originally intended. The club still has 47 million outstanding, and extended the loan until December 2010. However, it insists that even if this debt is not serviced by then, no money will be taken from Wengers transfer fund. Non-executive chairman Peter Hill-Wood said: The Groups prof- its have now risen in each of the three years in which Emirates Stadium has been our home. Arsenals run to the Champions League and FA Cup semi-finals last season contributed to match day revenues of 100.1 million up 5.5 million from 2008. Wenger contributed to the overall figures with around 14 million profit in transfers. Cash to splash: Arsenal boss Wenger Soaring gold prices and falling interest rates saw the UKs largest pawnbroker albemarle & Bond produce a surge in profits last year. The firms new chairman greville nicholls now plans to expand from the current 115 shops. He said: We are now actively pursuing opportunities to add new stores and at the same time we continue to focus on improving customer service, extending our range of services and exploring new routes to market. in the past year albemarle & Bond started offering to buy gold directly from its customers as well as allowing them to pawn it. This drove extra business and contributed 1.4 million to profits which grew by 42% to a total of 14.6million in the year to end-June. Pawnbroker soars on golds rise BY JAMES OLLEY Australia Dollars 1.7430 Canada Dollars 1.6560 Denmark Kroner 7.7099 Eurozone Euro 1.0390 Hong Kong Dollars 11.7600 Japan Yen 138.0300 New Zealand Dollars 2.0696 South Africa Rand 11.1800 Sweden Kronor 10.5400 Switzerland Francs 1.5651 UAE Dirham 5.5091 United States Dollars 1.5265 TourisT raTes A third of shoppers plan to spend even less this Christmas than they did last year, which was the worst on record, according to an iCM survey for trade paper retail Week. Last years Christmas spend was 25% less than had been expected. the boss of one of the countrys biggest retailers said: its dead at the moment. Independent news & Media is tonight expected formally to reject rebel shareholder denis OBriens plans to refinance the company and sell off its British newspapers. Instead the board is set to back chief executive Gavin OReillys plan to raise up to 120 million (110 million) by getting bondholders to swap some of their debt for shares. UP 25.43 at 5056.77 fTse 100 dow jones nikkei -$ DOWN 42.25 at 9665.19 DOWN 256.46 at 10,009.52 DOWN 0.93c at $1.5859 >>for all the latest City share prices, call 0905 817 1694* or visit * Calls cost 75p/min from a BT landline & last approx 1 min per quote. not all stocks are available index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html36.html37.html38.html39.html40.html41.html42.html43.html44.html45.html46.html47.html48.html49.html50.html51.html52.html53.html54.html55.html