Newcastle announce profit
Newcastle have recorded a profit for the second successive year, the club has revealed.
The Magpies have released financial figures for the year ending June 2012 which show that the club made a profit after player amortisation of £1.4million.
That is significantly down on the previous year's level of £32.6million, although that was due largely to the £35million sale of striker Andy Carroll to Liverpool.
Newcastle have also re-entered the list of the world's top 20 revenue-generating clubs after increasing turnover by 5.4 per cent to £93.3million.
That figure includes a rise of 14.6 per cent in television income as a result of their fifth-placed Barclays Premier League finish, a figure which is set to be boosted further by the bumper new broadcasting deal.
However, while operating costs have remained steady at £21.6million, operating profit fell from £13.3million to £7.5million, and the club's wage bill rose by 20 per cent to £64.1million as a result of the addition of the likes of Yohan Cabaye, Sylvain Marveaux, Davide Santon, Papiss Cisse and the now departed Demba Ba to Alan Pardew's squad.
That represents an increase in the wages-to-turnover ratio of 8.1 per cent to 68.7 per cent.
Although attendances at St James' Park rose to an average of 49,936 during the period - an increase of 2,190 on the previous year - ticket revenue dropped by seven per cent because of a series of pricing initiatives.
Commercial revenue too was down by 12.7 per cent, although the figures do not include the Magpies' new partnership with Wonga, which they say "represents a significant increase on the club's previous commercial agreements".