Newcastle United Reveal Increase in Profits

Newcastle United have announced an increase in their profits after revealing a post-tax profit of £9.9m for the year ending June 2013.

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”.

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.

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.”