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

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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."

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ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

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f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

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ooks like Real get their man, most likely at their own valuation, yet again. Resistance is futile.

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