Building work at new Arsenal stadium mirrors club’s successful start to the new season.

Arsenal FC has said that the construction of its new £357m stadium is ahead of schedule. The Premiership leaders said that work on the stadium’s foundations at Ashburton Grove had already been completed, and that three of the four stands would be erected by the end of the current season.

Work on the 60,000-seat stadium resumed in February after funding for the project had been confirmed. Arsenal is planning to complete the ground in time for the 2006/2007 season.

The club also announced a pre-tax profit of £13.1m earlier today (Monday). The results for the year end 31 May 2004 were buoyed by property developments associated with the new stadium, which represented 26.7% of the club’s £156.9m turnover.

The sale of sites to Wilson Connolly for £37.1m and Newlon Housing Trust for £9m, represented the biggest contribution to the club’s turnover.