Despite the current economic troubles, Arsenal have announced pre-tax profits in their half-yearly report.
Profit before tax for the six months ending 20th November 2008 is up from £20million to £24.5million.
The football and property aspects of Arsenal's parent holding company have both seen their contributions on the rise.
The Emirates Stadium affect is starting to pay dividends with match-day turnover up £3.3million to £44.5million, while broadcasting revenues increased to £28.9million.
The redevelopment of Highbury is now complete, with the 186 apartments which now exist on the site of the Gunners' old ground valuing £76.7million.
The credit crunch does mean that sales of the properties have been slower then initially expected, with the club keen to extend the terms of their Highbury bank loan.
However, club chairman Peter Hill-Wood insists matters away from the football field will not have an adverse on affect on Arsene Wenger's first team plans.
He said: "Clearly there are some significant challenges ahead of us, both on and off the pitch, over the closing months of this financial year and beyond.
"We are closely monitoring the position with a view to ensuring, as we always have done, that the group is on a robust footing and ready to respond to any challenges this exceptional economic climate may bring.
"The UK property market has been particularly affected by the economic downturn and, inevitably, this has had an impact on the group's own property development activities in the period.
"The financial arrangements for the group's property activities are separate and largely operate independently from the financing of the football business.
"This has always been a key aspect of our financial structure for the group and is intended to provide us with the ability to develop the football team as with, for example, the signing of Andrei Arshavin, irrespective of the difficult conditions in which our property business is having to operate.
"I believe these results are all the better for having been achieved against a background of what is clearly a very difficult economic climate."
Chief executive Ivan Gazidis added: "It does not impact the club because we never based the budgets for the club on anything that happens at Highbury and the two are ring fenced from each other.
"Obviously it is a situation we have got to monitor very closely, but it is not something that will affect the club negatively."
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