Penrith have exacted revenge on Newcastle with a 48-12 thrashing that lifts the resurgent Panthers into the top four and confirms a nine-game winning streak.

In the sides' last meeting, the Knights inflicted a demoralising loss that kicked the Panthers to the bottom of the NRL ladder and signalled the lowest ebb of their premiership dynasty.

Friday night's rematch hoists the Panthers in the other direction, with Ivan Cleary's side moving into fourth place, having not lost since that defeat to the Knights in round 12.

"I'm a lot happier than I was last time we played them," said coach Cleary after full-time in Newcastle.

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"That was definitely the low point of the year for us. Credit to the players and the staff, everyone's just put their head down and gone back to basics.

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