Arsenal have revealed a loss of £6.2m for the six months up to the end of last November.
The club cite one-off exceptional costs of £21.4m relating to their move to the Emirates Stadium as the reason for the loss.
The impact of the move can be seen in improved revenue for the same period with turnover increasing by almost 77% from £57m to £100.8m.
Chairman Peter Hill-Wood said: “The stadium project’s objective was to provide Arsenal with financial strength to compete at the highest level.”
Over the same period last year, the Gunners made a £9.6m profit after tax.
Pre-tax profits before net finance charges are up year on year from £14.3m to £19.6m and operating profits before depreciation and player trading jumped by 150%, from £8m to £20m.
Hill-Wood added: “I believe the results for the group’s first period in its new home demonstrate we have already achieved the milestone of providing the financial strength.
“The stadium has provided improved match-day facilities and tickets for a far great number of supporters.”