Llambias happy with figures

Newcastle managing director Derek Llambias has expressed his delight at how "boring" the Premier League club's latest financial figures are.

Last Updated: 28/03/13 at 10:29 Post Comment   

Derek Llambias (right): Newcastle managing director with owner Mike Ashley

Derek Llambias (right): Newcastle managing director with owner Mike Ashley

The Magpies reported on Wednesday a profit of £1.4million for the year to June 2012, their second successive year in the black, and are confident their model is working.

After years of boom and bust on Tyneside, that steady improvement has been greeted with a sense of satisfaction in the boardroom at St James' Park.

Llambias told the club's official website: "I think accounts should be boring - and these are boring, thank you.

"We are very happy we have posted a profit this year and we are delighted we are staying within our model.

"We will continue to stay within our model to provide decent players on the pitch and also to give affordable ticket pricing to our fans. It's working very well."

Things on the pitch this season have proved more difficult than last with injuries and a Europa League campaign making that top-five Premier League finish a distant memory.

However, owner Mike Ashley sanctioned a £31million January spending spree to address the issue, and that has paid dividends since.

Llambias said: "We could sit here and say, 'We have had a disastrous year, we have done this and we have done that'.

"It hasn't been an incredible season position-wise in the Premier League, but we are attacking the Europa League.

"It's been difficult because we didn't have enough depth in the squad, but I can now confidently say we are going to give it 100 per cent for the Europa League and we are going to give it 100 per cent to get as high up the league this year as possible.

"Going forward, we will expand our squad and year on year, we hope to be in a position of strength."

The arrivals of Moussa Sissoko, Yoan Gouffran, Mathieu Debuchy, Massadio Haidara and Mapou Yanga-Mbiwa have significantly strengthened manager Alan Pardew's hand, while the capture of Swiss teenager Kevin Mbabu demonstrated the Magpies' intention to continue to invest on promising young players.

That means the club, as Llambias insisted it would at the time, has reinvested all the proceeds of Andy Carroll's £35million sale to Liverpool, which helped to boost the previous year's profit figure to £32.6million.

Llambias said: "And more. It's been well and truly put back into the club. Whatever you say about that deal, it kick-started us into a different sphere."

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

H

e was right to leave, but not just because of the money City were coming into. If I remember rightly he had a reasonable amount of chances to shine at City, but he never passed the bloody ball. Loads of aimless dribbles and 40 yard shots and not much else. I would say that if he had learnt to be a bit more of a team player he may have done better at City.

bright and edgy
Sturridge: Right to leave City

O

h! And.... has it gone in!?' Well John, it is quite literally your job to tell me, so stop phrasing it as a question.

ajsr1982
Eye On The Experts: John Motson

M

an who resembles bond villain complains about spies ....brillliant

mrjackson
Palace deny spying accusation

Footer 365

West Ham's Matt Jarvis thinks he may need to be more clever after Arsenal penalty incident

West Ham's Matt Jarvis says he may have to be "a bit more clever" after staying on his feet despite Bacary Sagna's foul.

Transfer news: Damien Duff already planning for life after Fulham

Damien Duff has confirmed that he will be leaving Fulham this summer and will be going in search of 'something new'.

Premier League: Harry Kane feels youngsters are crucial to Tottenham's cause

Harry Kane believes he and a number of fellow academy graduates are capable of holding down regular roles at Tottenham.

Mail Box

Fatigue No Excuse For Giroud Being Cr*p

We have a long mail on why Giroud isn't very good at all, plus some more thoughts on neutrality. Plus, who do you want out of you club this summer and Liverpool moving buses...

Will Liverpool Cope With Parked Buses?

That's the real problem they're going to face next year, says one Man United fan who's already looking forward to the end of this campaign. Plus, thoughts on neutrality...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property