Despite the £5.5m loss at Newcastle, directors were “satisfied with both the playing and the financial performance of the club during the year”. Newcastle finished last season in fifth position in the Premier League.
Newcastle United’s income from television and media revenue rose by 14.6pc during the year.
Profits contributed to the group from Sports Direct jumped 6pc to £114m, while the group’s “brands” division, which covers a long list of well-known names, including Lillywhites, Lonsdale and Karrimor, posted a £22m profit, up 45pc.
Mr Ashley founded Sports Direct in 1982 and still owns 64.4pc of the group.
He did not return a call seeking comment.
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