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.
