Newcastle United confirms financial results for year ending June 2019
Newcastle United has announced its financial results for the year ended 30th June 2019, which show a profit after tax of £34.7m.
|Operating profit before player trading and amortisation||£53.5m||£58.9m||(£5.4m)|
|Profit after tax||£34.7m||£18.6m||£16.1m|
|Wages to turnover ratio||54.9%||52.4%||2.5%|
|Cash at year end||£14.0m||£33.8m||(£19.8m)|
|Average home league attendance||51,116||51,992||(876)|
Turnover fell by 2%, from £178.5m to £176.4m.
Media income fell £2.5m, being the net of a lower merit award based on league position, offset against one additional live TV game (19 vs 18) and an increase in international broadcasting income.
Match income increased £0.9m (4%) from £23.9m to £24.8m as season ticket and Premier League matchday attendances averaged over 51,000 for the third successive season.
Commercial income fell £0.5m (2%) from £26.7m to £26.2m, impacted by the success, in the prior year, of the three Ed Sheeran concerts.
Operating expenses increased £3.3m (3%) from £119.6m to £122.9m, due almost entirely to an increase in wages and salaries, which accounted for £3.2m of the increase.
At £96.8m the wages to turnover ratio of 54.9% remains under the target 60%, although slightly up from last year (£93.6m, ratio 52.4%)
Excluding amounts released in respect of prior year onerous contract provisions, the 2019 year figures are £100.9m (2018: £103.4m) and 57.2% (2018: 57.9%).
Player amortisation and trading
Amortisation and impairment of players’ registrations fell to £38.6m (2018: £41.3m).
Profit on disposal of players’ registrations increased to £24.6m (2018:£3.6m).
Cash balance at the year-end was £14.0m (2018: £33.8m).
Repayment of short term debt was £33.0m (2018: £nil).
Full financial statement
The full financial statement for the year ending 30th June 2019 can be found here.