Newcastle United managing director Lee Charnley has warned the supporters that the club will not spend big after reporting an £18.6m profit after tax.
Despite the positive financial situation at St. James' Park, Charnley has insisted the club will not spend money it has not got in order to improve the squad.
"A 10th-place finish in our first season back in the Premier League was a fantastic achievement and I would like to thank everyone connected at the club - staff, players and fans - for their collective efforts," the Magpies' managing director said.
"The significant increase in revenue, together with prudent financial management, resulted in the club showing a profit and that is reassuring, given the substantial loss in the previous year.
"There is much more work to be done, but these financial results give the club a strong platform on which to build.
"We all want to see the club improve and be competitive at every level, and in every competition.
"We are convinced that the best route to achieving this is to do sustainably, spending on young development players and adding high quality to the first team squad each season - players that can really make a difference and improve the team - without risking the financial health and stability of the club.
"We strongly believe that consistently doing the above, and robustly following this policy; will give us the best possible chance of achieving our shared ambitions."
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