Arsenal manager Arsene Wenger has insisted that he is not afraid to spend money in the transfer market following the release of the club's pre-tax profits.

The 2011-12 figures were increased due to the sales of Cesc Fabregas, Samir Nasri and Gael Clichy but the Gunners did spend more on player wages in the previous 12 months.

Wenger has revealed his pleasure at the release of the financial results but claims that he will continue to enter the transfer market when he feels necessary.

"Our numbers are good," the Frenchman told reporters. "They are pleasing, very pleasing. We are very lucky because we have good support and the income of our gates is very high.

"We are not scared to spend the money but we feel that even if we spend our money we can't compete with some clubs on certain players. We want to spend our money in the right way."

Arsenal's match with Chelsea on Saturday will reportedly be the most expensive fixture in Premier League history.