The latest annual results from Arsenal show a rise in pre-tax profits to £29.4 million, up £8m on last time - but removing transfer income, the club actually made a loss of £1.4m. And it could have been worse had it not been for the sale of a 5% stake in the club to media company Granada.

In his statement, chairman Peter Hill Wood paid tribute to three Gooners who died during the year: George Armstrong ('inspiring coach... superb player'), David Rocastle ('talented midfielder') and Niccolo Galli ('defensive rock'). All will be sorely missed.

Otherwise there's little of note, certainly nothing we haven't mentioned before on Arseweb. But fans will appreciate the apologetic tone of comments about reduced capacity for Champions League games, and the rise in season ticket prices.

Graham Stone writes to point out that things would have looked better if not for Real Madrid's failure to cough up the payments for you-know-who (see note 12 of the statement). They don't seem to think that still have to pay what they owe for him, now that they've sold him on.

You can read the full statement here.