Toon profits down by 28 per cent
14 April 2012
Newcastle's operating profit fell by £3.3million for the year ending 31 July.
Profits dropped from £11.6m to £8.3m - down by 28 per cent - according to preliminary results announced today.
Group turnover fell £6.2m to £90.2m, due mainly to the team's failure to qualify for the Champions League, which contributed to a £8m fall in television revenue to £33.7m.
However, wage and salary costs were down by one per cent to £44.9m while overall match revenue increased to £33.9m.
Debt went down by £5.7m but still stands at £37.2m, although the sale of Jonathan Woodgate to Real Madrid for £13m took place after the end of the company year.
