Healthy profit for Newcastle

Newcastle have announced a post-tax profit of £9.9m for the year ending June 2013.

Last Updated: 25/02/14 at 17:09 Post Comment

Moussa Sissoko: Among several signings who cost Newcastle £28.7m in transfer fe

Moussa Sissoko: Among several signings who cost Newcastle £28.7m in transfer fe

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

The figure represents an £8.5m increase in profit on the previous 12 months and, according to Newcastle, is down to "player trading, a strong commercial performance and a significant reduction in operational losses".

Newcastle made a £10.6m profit on player sales, the bulk of which came from the sale of Demba Ba to Chelsea, although £28.7m was paid in transfer fees on the likes of Mathieu Debuchy, Yoan Gouffran and Moussa Sissoko.

A 24.2% increase in commercial revenue drove overall turnover up to £95.9m, while matchday turnover was also up and operational losses significantly down - from £5.1m to £616,000.

A statement from the club's directors made it clear they believe a long-term strategy of financial responsibility will bring rewards - despite renewed criticism of owner Mike Ashley in the wake of Yohan Cabaye's recent departure.

The statement read: "As supporters will be aware, finances are a significant issue for all football clubs given the introduction of Financial Fair Play into the Premier League in addition to UEFA's Regulations.

"Complying with FFP continues to be a key influence on strategy and something we have been working hard at over a number of years.

"Everyone at this club wants to finish as high up the Barclays Premier League table as they possibly can. If the club can sustain itself as a 'top ten' team year-on-year with a stable structure and the right finances, it gives itself every chance of pushing even further.

"Matchday and commercial revenue is a key driver because that's where the club can compete with - and outperform - its competitors to enhance its spending capabilities.

"The process requires patience but we remain absolutely committed to growing the club in a responsible and sustainable way."

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

D

oes the absence of Winston Bogarde mean he's finally left Chelsea?

nellyknows
The Pre-Season 'Is He Still There?' XI

P

resumably, Diaby is in this team but receiving treatment

lee
The Pre-Season 'Is He Still There?' XI

A

deadwood 11 and not an arsenal player listed. Heady days.

EssexGooner
The Pre-Season 'Is He Still There?' XI

Footer 365

Arsene Wenger reveals his most important achievement of his Arsenal reign

Arsene Wenger says keeping Arsenal competitive during barren years has been his most important achievement.

Liverpool boss Brendan Rodgers expects his side to challenge for the Premier League title

Brendan Rodgers is confident Liverpool will not let last season's title heartbreak affect their challenge this term.

Premier League: Everton sign Engalnd youth international Brendan Galloway from MK Dons

Everton have signed teenage defender Brendan Galloway on a five-year contract from MK Dons

Mail Box

Are Villa Fans The Lowest Of Them All?

With the possible exception of Blackpool, are any club's fans feeling any more depressed about the start of the season than Villa? We also have a bizarre suggestion and...

How Can Tim Sherwood Be Out Of Work?

Don't peple know his PPG was THE BEST EVER FOR A SPURS MANAGER? We also have mails on Luis Suarez, the new fashion for 3-5-2 and more...

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