Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Profits leap at troubled Newcastle

Andrew Yates
Wednesday 25 March 1998 00:02 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

NEWCASTLE United, the Premier League football club rocked by a row over insulting remarks by two executives, yesterday tried to draw a line under the episode as it unveiled a strong rise in interim profits.

Operating profits rose 56 per cent to pounds 10.3m for the six months to January, thanks to a strong rise in television revenues. Participation in the European Champions league contributed pounds 5.5m, compared to the pounds 3.6m from the UEFA Cup the previous season. However sales of replica kits and merchandise were disappointing.

Newcastle wants to expand its retail operation from the North-East, where it has reached saturation. It wants to expand its mail order operation and is considering setting up new stand-alone retail outlets.

Freddie Fletcher, group chief executive, said the controversy surrounding Freddie Shepherd and Douglas Hall had damaged sales. Neither director will receive any pay-off following their resignation.

Outlook, page 23

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in