Turnover at the club increased to £136m from £106.1m in 2012, while matchday income was also up, from £37.8m to £45m.
Broadcasting revenue rose to £52m from £40.1m and there was also an impressive increase in revenue from commercial and retail activities, which rose from £27.7m to £38.4m.
Arsenal also saw operating profits from football rise to £22.2m, up from £4.4m the previous financial year, although profits from transfer dealings fell to £6.1m from a previous figure of £42.5m.
Overall, the group loss before tax was £2.2m compared to a profit of £17.8m in 2012.
The club remain confident they will meet all of the requirements laid down by both the Premier League and UEFA financial regulatory regimes though and chairman Sir Chips Keswick was in buoyant mood after the figures were announced.
"When I was appointed chairman last summer, there was good reason to believe that the hard work which has been put in, by many people across the club, over recent years had created the momentum for a successful season in every aspect of our activities," he told the club's official website.
"Thus far that optimism has been well-founded. We believe we are in a strong position to take the club forward both in the short-term and beyond and to deliver future on-field success."
The club made a loss because Frimpong slipped and fell on the wet tiles in the dressing room floor at London colney. He sued successfuly and got £27m and a one way ticket to Barnsley!- GunnerPete