SportBusiness.com

Newcastle reports 'strong' interims

English Premiership club Newcastle United plc has reported a loss after tax of £1.38million ($1.96m/EUR2.23m) for the six months ended Janurary 31, 2002.

The North-East club, which currently lies in fourth place in the league, increased turnover by 11 percent to £35.8m ($50.9m/EUR57.8m), principally reflecting increased Premier League TV revenues. However, the player trading deficit increased by 20 percent to £6.1m ($8.67m/EUR9.86m).

"It has been a strong six months and we are continuing to grow revenues as a result of the stadium expansion, revised media rights and pursuit of other commercial opportunities, whilst ensuring that costs are kept under control," said chairman John Fender.

The club's wages and salaries, including signing on fees paid, equated to 42 percent of turnover - well below the average for quoted Premiership clubs.