Arsenal chairman Chips Keswick concedes the Gunners can do little other than try to salvage pride in their Champions last-16 tie against Bayern Munich.

On the same day as announcing a pre-tax profit of £12.6million on a six-month period up to November 30 2016, despite spending record levels on transfers, Keswick addressed the familiar failings of Arsenal in Europe.

Arsene Wenger's team were battered 5-1 in the first leg against Bayern at the Allianz Arena, leading to renewed criticism of the manager's tenure and fuelling rumours that his long reign at the club, now in its 21st year, could come to an end in the close-season.

Keswick insists Arsenal will give their all in the return fixture at Emirates Stadium, but stopped short of predicting what would be an incredible comeback against the Bundesliga champions.

"Everyone, including Arsene, our players, board and staff share our fans' disappointment at our first-leg result against Bayern Munich," he said via an Arsenal news release.

"But we will approach the second leg with professionalism and a desire to reclaim pride. Unity has always been one of Arsenal's strengths as a club.

"We are very focused on producing a positive and exciting closing run and with the support of our fans I believe together we can achieve a successful and memorable end to the season."