Newcastle have announced a post-tax profit of ?9.9m for the year ending June 2013, reports SkySports.
The figure represents an ?8.5m increase in profit on the previous 12 months.
The Magpies made a ?10.6m profit on player sales, the bulk of which came from the sale of Demba Ba to Chelsea, although ?28.7m was paid in transfer fees on the likes of Mathieu Debuchy, Yoan Gouffran and Moussa Sissoko.
A 24.2% increase in commercial revenue drove overall turnover up to ?95.9m, while matchday turnover was also up and operational losses significantly down – from ?5.1m to ?616,000.
A statement from the club’s directors made it clear they believe a long-term strategy of financial responsibility will bring rewards – despite renewed criticism of owner Mike Ashley in the wake of Yohan Cabaye‘s recent departure.