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

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

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."

More of the games that matter

2 years free Sky Broadband Unlimited for Sky Sports customers

Related News

Most Commented

Readers' Comments

T

his specializing in mediocrity will only stop when Wenger and his entire back room staff are cleared out. Dortmund are everything Arsenal should be; in fact they're everything Arsenal thought they were, until they met this supreme doppelg nger.

dr soccer
The Bitter Taste Of Arsenal Déjà Vu

D

isgusting. Shambolic. Pathetic. Embarassing. Inept. Below par. Painful. Horrible. Sickening. Frustrating. Wasteful. 11 adjectives to describe the 11 professionals on the pitch. I have never been so frustrated. Losing I can handle, but negligence and years of the same mistake is just becoming a joke now. One that isn't even funny anymore.

mootilated
The Bitter Taste Of Arsenal Déjà Vu

T

he worst performance since Wenger took charge. A spineless, gutless cowardly performance. Wenger and the players should hand their weeks wages to the fans. Useless pathetic amateurs.

popularpete,
Wenger bemoans poor display

Footer 365

Premier League: Newcastle winger Jonas Gutierrez battling testicular cancer

Newcastle United winger Jonas Gutierrez has revealed he has been receiving treatment for testicular cancer.

Champions League: Arsenal boss Arsene Wenger admits Dortmund deserved victory

Arsenal boss Arsene Wenger admits his side were 'average' following their 2-0 defeat to Borussia Dortmund.

Champions League: Liverpool boss Brendan Rodgers praises side after Ludogorets win

Liverpool boss Brendan Rodgers praised his side's character as they battled to a late 2-1 win over Ludogorets.

Mail Box

Who's More Miserable - Baggies Or Mags?

There's not a lot to choose between the misery of West Brom fans and the misery of Newcastle fans. We have mails on them, 'only QPR' and lots on Man United...

Forget it, Ronaldo Won't Come Back

A varied morning mailbox, with thoughts on Ronaldo, Daley Blind = Michael Carrick, Ed Woodward redemption, stick with Pardew, QPR's name change and marbles...

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