Celtic released their financial results for the year to 30 June 2014 this afternoon. The club remained profitable to the tune of £11.17m (2013: £9.74m) despite a 14$ drop in revenue to £64.74m. The net cash position at the end of the year was hardly changed from the previous year at £3.83m.
Football and stadium revenue was down £4.4m, which correlates almost exactly to the £100 reduction in season ticket process for around 40,000 seats, but the biggest hit was to Multimedia and Commercial Activities, which were down £5.21m. The bulk of this fall will be explained by finishing fourth in the Champions League group stage, instead of processing to the knock out stage, as we did in season 2012-13.
Celtic opened a new borrowing facility with the Co-op Bank two weeks ago to replace their existing facilities. The club have a £6m overdraft (at base plus 1%) and £14.4m of long-term loans.
This high watermark will not be reached this season as revenue will struggle to reach £55m but it’s clear the club can support the current cost structure without needing to pair back. The project for now is to get revenue back over £70 next season, and for that we’ll need to be better prepared come Champions League qualification time.
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Hoops
podium?
Mon The Hoops!
Today is a good day
You’re my wife now Philvis…
Aye
Being in the UK fair helped the poor and underprivileged deal with the world financial crisis of 2008. Their share of the consequent belt tightening was the Bedroom Tax and the introduction of benefit sanctions.
But hey, we’re all in this together says “Call Me Dave” and his pal Gideon.
Re: MPs expenses. Could the poster who flagged up those of JF Murphy please post a link.
Surely ole Muzza isn’t claiming Parliamentary expenses for his Better Together activity?
Neganon2
My point on euro courts was we would not need to go through the British system before we are allowed to approach the euro courts, a layer removed.
Curses! MWD suckered me into a long reply.
Well done to starry plough. (thumbsup)
Paul67 – But, but,but Co-Op were supposed to be calling that debt in and we were going into admin? What is this re-financing voodoo? What sort of company has that available to them?
philvisreturns
I remain your humble servant…
starry plough
16:28 on 12 September, 2014
You’re my wife now Philvis…
—–
Hilarious. I hope you have a long and Hoopy life together!
:-)
HH jamesgang
Paul if we have net bank balance of circa 4m does that mean, taking Into account the overdraft and long term loans, we have circa 24m in the bank?
Now Poundland have said a YES vote will mean they will change their name to Unspecifiedcurrencyland and put all the prices up to 3,000 somethings!
Burn in hell Paisley
It’s all you deserve for the misery you brought to the island of Ireland and the countless lives you ruined on both sides
Not bad figures from a layman’s point of view
And very healthy considering the market we operate in
Just one thing Paul 67 excuse me for being pedantic
“The project for now is to get revenue back over £70 next season”
That would be 70 millions of course
HH
The real Philvis would not have missed out on 4 in a row to Heidi’s big brother
Canamalar why is this European court point important? What disadvantages has the current approach given us?
Looking forward to tomorrow’s game, in hope and faith.
HH
Lost £20M because we gambled on lack of talent going into the CL qualifiers, a few million would have seen us through but we gambled badly, something we were told would not happen, the board won’t gamble with the finances eh
Paul on further question. Should we be worried if our financial position stayed still given vast profits in player sales and CL money?
Just so long as the board remember the immortal words of Mr McCawber, eh
KINGLuBO
Now I’m loathe to ask this kind of question but where is the Hooper/Wanyama money. It wasn’t in the accounts for the previous year, and I don’t immediately see it here.
Timmy7noted. Yes I said those things. And?
‘and for that we’ll need to be better prepared come Champions League qualification time’
Paul this isn’t a dig at you… And I’m probably a happier clapper than most on here….but can I just say in relation to that statement of the bleedin’ obvious and our summer window signing activities of 2013 and 2014……..aaaaaaaahhhhhhhhhhhhhhhhhhhhhrrrrrrrrrrr!!!!!!!
Not smiley exasperated thingie!
Aff oot. Bike ride.
Need to watch out for packs of feral Yes voters with their deadly Attacks.
And my favourite acerbic wit from on here trundling along on his casters saying EXTERMINATE! EXTERMINATE! EXTERMINATE!
Oh and lorries. Big ones.
Laters Timdom
HH jamesgang
Neganon2,
Injustice will get to the world stage sooner, the OBB Scottish court decisions can be challenged on a real world stage a lot quicker than the current set up, it won’t spend years knocking around England, reduced costs the lot, I’d have thought you might have copped on to that quicker.
Jim Sillars
“This referendum is about power, and when we get a Yes majority, we will use that power for a day of reckoning with BP and the banks.”
Well said Jim Sillars
No wonder they are all threatening to head south to their political masters in London they know the Scottish people will demand major banking reform
We have not forgot the years of austerity their greed forced on us
The Battered Bunnet
It’s in the fondue with yer shabby chapeau, wee Heidi turn the heat up…
Absolutely agree that we`ll need to be better prepared next year come Champions League time.
As someone posted the other day Scotland play World Cup qualifiers in mid-June, CL qualification starts in mid-July. Some of our international players are going to have a non-existent close season next year.
Commons, Kayal and Brown all go out of contract on 30 June 2015. Their future needs resolved quickly.
Denayer will be gone, Berget and van Dijk almost certainly so too. As for Guidetti, Tonev, Mubarak – who knows?
We will need a new back up goalkeeper as Zaluska goes out of contract also in June 2015.
That is some amount of players whose long term future remains uncertain before these crucial qualifiers. We need to make sure that by the end of January we have sorted out who is staying and taken steps to replace those who are going. Waiting until the summer, far less waiting until the last day of the summer transfer window, is simply not an option in 2015.
NegAnon2
15:41 on 12 September, 2014
But on top of that I believe we are stronger together, in a larger community, with greater influence, in a bigger market with more diversity in both social and employment opportunities. That splitting is a strange thing to do when we need to get scale to compete in the world.
And as I have said time and time again, we seem to think Scotland is some great wee place and we as a people are different and much more socially conscious etc. well I really find that bizarre given all that has happenned to us as a celtic support, sectarianism etc.
==================================================
There does seem to be some kind of collective madness gripping a fair size of the population. What disturbs me is the willful ignorance to dismiss any form of negative reality/absolute truths with ‘Ach, it’ll be awright, you’ll see.’
More disturbingly, this was the mentality of Huns we used to scoff at as their institution sunk into the deep in the face of their staunch denial. If you tried to offer any contrasting view to them back then the responses/retaliatory rhetoric were very much in the vain of the Yes campaign at this point in time.
Debate and sense has been lost in the bedalm. How did it get to this? Mental.
——————————-
On the plus side, this new article means there’s a whole new balance sheet to argue over rather than the referendum.
;))
Canamalar. Right I understand a bit more. But there has been no appeal against the OB act anyway?
“TEETH WILL BE PROVIDED !”
I’m sure some of you know what I’m talking about.
Paul; my understanding of the ‘borrowing Facilities’ is that they are simply that, Borrowing Facilities which are there if required, thus the wording of ‘potential’ Would you agree that while we have a facility these are not drawn and we have no debt there?
Paul you wrote: ‘Celtic opened a new borrowing facility with the Co-op Bank two weeks ago to replace their existing facilities. The club have a £6m overdraft (at base plus 1%) and £14.4m of long-term loans.’
Do you mean an overdraft facility or are we overdrawn already?
Thindimebhoy that is political populism and posturing on a grand scale. Tabliodesque ill though through and plain silly. It also guarantees that banks will move to England to escape from these new regulations you are tub thumping for.
Dearie me.
auldheid
16:28 on 12 September, 2014
MWD
“The human race is born out of division” IS the illusion.
Check genesis. It is a metaphor but in it God did not hide from Adam & Eve. They hid from him after dressing themselves from judgement.
They saw themselves naked and judged that something to cover up. God didn’t.
The result was not a punishment. It was a consequence of taking on a power they /we were not ready for.
We cannot be separate from or divided from God. There is nowhere that God is not. Nowhere is separate from anywhere.
For God substitute Life ( or if you are Davidopolous “banana”) but when you buy into the illusion of separation you are on a tread mill trying to sustain it.
Politics is part of that treadmill. We want to get off, not change treadmills.
auldheid
16:36 on 12 September, 2014
Neganon2
Have not had chance to see if you saw this link and read the article but it covers the consequences arising from the belief in separation in a very articulate fashion.
https://www.opendemocracy.net/ourkingdom/greg-philo/socialism-should-trump-nationalism-in-scots-debate
It is no coincidence that when CQNers do acts of charity together that there is a feeling of satisfaction and harmony.
It should be no surprise therefore that not acting together produces an entirely different bitter fruit.
This has been so self evident on this blog alone does no one think perhaps the core belief in division is wrong when we see the results of it and it’s opposite?
Neganon2,
It’s no just the OB is it, challenging anything will now be quicker and cheaper and on a bigger stage.
However as yet doesn’t mean it’s not going to happen.
Sandman it’s particularly worrying given the enormity of the change being voted for. It will impact all aspects of our lives but when the downsides are discussed it is instantly out down as scaremongering. It’s not a great way to be is it?