Newcastle United's operating profits almost trebled to £20.1m in the six months to the end of January. This figure does not include player trading.
Profits before interest and tax at the Premiership football club increased from £1.4m to £11.5m.
Chairman Freddy Shepherd claimed the record results reflected the club's participation in the Champions League.
Turnover increased by 57% to £56.2m, match revenues were up by 41% and television and broadcasting revenues were also up by 126% to £21.5m.
But there was also a huge increase in wages - climbing by 47% to £22.9m, which the club claims jump was due to strengthening the squad for the Champions League. The overall wages to turnover ratio is still below 50% - afigure seen by many City analysts as vital to avoid cash problems.
