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Newcastle announce record profits

Newcastle United may be staggering their way towards the end of another season of under-achievement but they still announced record profits of 18.7 million pounds ($27.75 million) after tax to the end of June last year.

Newcastle, who last won a major domestic honour in 1955 and are currently 12th in the 20-team Premier League, announced a recorded profit for the fourth successive year, up from 9.9 million pounds in 2013.

Despite the good figures on the balance sheet, their figures in the league table were not quite so heartening in the period covered by the profits, finishing 10th in the table winning only 15 of their 38 league games.

In a statement on their website (www.nufc.co.uk) the club reported that operational losses of 0.6 million pounds in 2013 were turned into an operating profit of 4.7 million pounds by June 2014.

Copyright Reuters, 2015