United Announce Accounts
Written by Newcastle Utd
Newcastle United FC
Newcastle United Football Company Limited have announced their accounts for the year end June 2012
Newcastle United Football Company Limited has today announced its financial figures for the year end June 2012.
After making significant strides towards meeting and exceeding UEFA's Financial Fair Play regulations last season, the Club has recorded an overall profit for the second successive year.
While last year's figures, which included an overall profit of £32.6m, were significantly boosted by the £35m sale of Andy Carroll to Liverpool, this year's figures give a clearer indication of the Club's positive performance overall with profit after player amortisation standing at £1.4m.
The Club has also re-entered the list of the world's top 20 revenue-generating clubs after increasing turnover to £93.3m - representing a 5.4% increase on last year.
Turnover has been boosted by last season's strong performance on the field, with a fifth-place finish in the Barclays Premier League swelling TV income by 14.6%. That figure is set to continue rising next year courtesy of improved broadcast agreements.
While the average attendance at St. James' Park has risen to 49,936 - an increase of 2,190 on last year, ticket revenue has fallen by 7% after the club froze season ticket prices with its ten and nine-year season ticket deal and continued its commitment to making football affordable through a variety of ticketing initiatives.
As a result of these initiatives the Club saw a hugely significant increase in the number of season ticket holders and members. The number of season ticket holders reached its highest level since 2007.
Commercial revenue fell by 12.7%, though the latest figures do not include income from the Club's new partnership deal with Wonga. That partnership, which is effective from the 2013/14 season, represents a significant increase on the Club's previous commercial agreements.
While operating costs have remained steady at £21.6m, operating profit is down from £13.3m to £7.5m. A key factor is an increase in the Club's wage bill, which has risen by 20% to £64.1m following the signings of a number of key players, including Cabaye, Marveaux, Santon, Ba and Cisse. That puts the Club's wages-to-turnover at 68.7%, an increase of 8.1% on last year.