 Chairman Freddy Shepherd wants improvements on the pitch |
Newcastle have announced a loss of �6.3m for the six months up to 31 January 2006, compared to a profit of �9.7m over the same period last year. The losses are mainly attributed to a fall in overall revenue, caused by six fewer fixtures in all competitions.
Profit before player trading was at �2.7m - down from �8.5m during the same period 12 months ago.
Chairman Freddy Shepherd admitted that the level of investment has not been reflected on the pitch.
But he has been pleased with the progress made under acting manager Glenn Roeder following a poor start to the season under Graeme Souness, who was sacked in February.
Shepherd said: "The current season has been disappointing, with performances on the pitch falling well below the levels we expected.
"Since his appointment, Glenn Roeder, capably supported by Alan Shearer, has overseen a significant improvement in team performances.
"We want this positive trend to continue while our search for the best possible team manager takes its course."
MMIX
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