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Newcastle United reports profits
England - 25 October, 2004
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The Premier League club has announced a preliminary pre-tax profit of £4.22m for the year ended 31 July 2004, compared to a profit of £4.37m in the corresponding period the year before. Turnover dropped from last year’s £96.45m in 6.5% to £90.2m mainly due to the club’s failure to qualify for last season’s UEFA Champions League. Broadcasting income dropped nearly 20% from last year’s £41.68m to £33.65m. Operating costs reported to £69.73m, with wage costs of £44.9m, while net debt decreased by £5.7m to £37.2m.
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