Newcastle Announce £6.3m Loss

By Nick Raynor
April 13 2006

Newcastle have recorded a loss of £6.3 million in the clubs interim results.

The results are for January 31^st 2006 and the six months prior to that date.

 

In the same period last year, the club made a £9.7 million profit.

 

Playing 6 fewer games in all competitions was a factor in this, as was signing Michael Owen, Albert Luque and Norberto Solano, not forgetting the sacking of manager Graeme Souness.

 

Shepherd said:

 

"The current season has been disappointing with performances on the pitch falling well below the level we expected.

 

"Since his appointment as acting team manager, Glenn Roeder, capably supported by Alan Shearer, has overseen a significant improvement in team performances."

 

Shepherd added: "We want this positive trend to continue, while our search for the best possible team manager takes its course."