Celtic’s financial results for season 2015-16 were announced this afternoon. Turnover increased 1.8% to £52m, but operating expenses (before transfer fees, tax, interest, etc.) were up 7.3% to £57.1m
The club made up the shortfall with a gain on player sales of £12.6m. Against this income, Celtic paid £8.8m for player registrations (which will be amortised against the accounts evenly over the period of player contracts).
Pre-tax profit was £0.5m, with cash at 30 June 2016 up to £10,450.
Chief executive, Peter Lawwell, stated in the accounts, “On the pitch, the year did not meet with our expectations”
“Off the pitch the Company returned to profit, mainly as a result of the transfer of certain player registrations during the period leading to a gain on sale of player registrations of £12.6m (2015: £6.8m). This enables us to continue to deliver long term sustainable football success in a very challenging environment.
“For a club like Celtic, operating in a market where television values have fallen significantly behind our neighbours across Europe, qualification for the Group Stages of the UEFA Champions League is of paramount importance. The financial rewards allow for investment in the playing squad and physical assets, but moreover, the prestige of participating in the premier club competition in the world reinforces the reach and importance of the Club to so many people around the world.
“Celtic supporters continue to support the Celtic FC Foundation as it develops into one of the most successful club charitable organisations in the world. That support is not surprising, but it is not taken for granted. I thank everyone involved in the continued success of the Foundation.”
I don’t think there is a direct correlation between not qualifying for the Champions League and player sales, that is correlated with the period remaining on top players’ contracts, but issues around our two years without Champions League football were enormously resolved by the recruit-to-appreciate model.
Tune in next year, when we’ll turnover close to £80m.
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First?
HAPPY HOOOOPY BIRTHDAY to
LAURA!!!!!!
MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 3:19 PM
WHAT IS THE STARS on 19TH SEPTEMBER 2016 3:09 PM
Weeminger
Nobody said there was anything wrong with ownership. It was the removal of housing from social housing stock (at a discount) without them being replaced that was the issue.
without them being replaced that was the issue. Thats the crux.
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Yes.
Blair`s fault , then ? Or John Major`s ?
first?
Tell That To Yosemite Bam!
macjay1 for Neil Lennon on 19th September 2016 2:11 pm
The last hurrah of universally totally discredited socialism is played out on CQN.
To a backdrop of yawns.
__________________________________________
Macjay, irrespective of whether or not I agree with you, your posts and arguments are usually well constructed, based on your interpretation of the evidence and thoughtful.
This time, I would have to posit that they are not; they are bordering on vacuous.
As someone who worked in a large metropolitan housing authority Homeless Unit in the late 1970’s and who also was at the forefront of implementing the Right to Buy legislation; and then worked on and off in housing projects and lecturing in housing in the 80’s and 90’s, I have an in-depth and detailed knowledge of the subject as it happened.
The impact of Thatcherism on housing and homelessness in the UK since the early 80’s has been monstrous and the greatest single factor in the scandalous lack of affordable rented housing for young and/or vulnerable people.
That is not simply a political viewpoint; it is an empirical assessment that can be verified by the statistical evidence available.
MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 2:59 PM
‘Let`s talk the unmentionable . Immigration.
Why not ? The punters are.’
________________________________________________
If you want to deny and deflect (sic) then mention immigration; however, the initial period of impact we are discussing here is the 1980’s and 1990’s. In this period the net migration to the UK was negative; this, therefore, negates your argument (if it is an argument).
FAC the Act
KTF
BIG JIMMY on 19TH SEPTEMBER 2016 3:19 PM
Your decision.
Thatcher`s fault.
Hang on a minute. Profit ?
‘Celtic’s financial results for season 2015-16 were announced this afternoon.’
##
GB hard at work preparing a tifo in celebration.
MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 3:22 PM
To come back to your point at the end of the last thread. No, I wouldn’t blame the buyers. They shouldn’t have been presented with the opportunity in the 1st place. As has been stated the whole strategy was flawed.
The other aspect that’s been forgotten, is that the idea was also that people’s savings would be in their property then as they reached pension age they’d downsize releasing capital to top up pensions etc. Problem is ppl are getting to retirement and they can’t downsize because their kids still live at home unable to get on the property ladder and there’s also no affordable houses for them to downsize into.
Macjay
Apportioning blame is fairly pointless
The answer is simple,build more local authority houses.
Unfortunately all governments since the late 70s seem to be ideologically opposed to giving people ” something for nothing ” ( i.e. a house at less than the market value QUELLE HORREUR !!)
Well build prisons and arm the police then because serious social unrest is the logical conclusiion eventually.
Give people a stake in society and they will respond positiviely to that
The glorious balance sheet
RON67 on 19TH SEPTEMBER 2016 2:44 PM
TURKEYBHOY on 19TH SEPTEMBER 2016 11:30 AM
Just exactly what did Gamboa do yesterday,to be labelled a dud?.
i agree we have to give him time to judge , but yesterday he was badly at fault with his defending at their first goal, he failed to attack the player and backed off ,ending up turning his body goal side allowing the attacker to turn to his inside , poor play.
Your response just sums up everything that is wrong with football.Far too many watching Sky football,who take apart teams every time they lose a goal.Players getting damned for being out of position,not being fast enough to cover,taking their eyes off an opponent for a second.
All bullshit,but Manna for the armchair managers.All this coming from a defender who I am sure scored more OGs than any other EPL player,and made many howlers,Jamie Carragher.
I said earlier,KT gave away the needless foul that led to the 2nd goal.So what?.It happens,does not make players duds,especially after two games.
WHAT IS THE STARS on 19TH SEPTEMBER 2016 3:31 PM
Yes indeed.
But in the meantime , is it reasonable that tax payers money in a country should fund the housing of the populace of that country first , before funding the housing of non tax payers from other countries ?
Is that a reasonable proposition ?
Anybody on CQN wants to criticise immigration doesn’t belong on this forum.
They’ve forgotten one of the founding principles of this club … and one of the foundation stones of our civic decency. We’ve spent decades bollixing up various parts of the world. It’s only right that we do our share in cleaning up the mess it’s caused.
Chief executive, Peter Lawwell, stated in the accounts, “On the pitch, the year did not meet with our expectations”
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Shocking admission from Peter Lawwell. The board did not expect Celtic to win the League????
;)
MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 3:41 PM
You still haven’t said whether you would be in favour of extending the right to buy to the private sector.
Macjay
But in the meantime , is it reasonable that tax payers money in a country should fund the housing of the populace of that country first , before funding the housing of non tax payers from other countries ?
I have no great problem with that…
But that hasnt happened either.
Farage and Johnson played the little Englander card at the Brexit Poll ( vote leave and there will be no more foreigners,vote leave and we can put hundreds of millions into the Health Service etc,money that we are giving to Europe blah blah)
Lies all lies
Its an obscenity that wealthy western countries have homeless people..
Let them eat cake I suppose,….that wont come back to haunt us
PAUL67
Did the accounts mention anyone’s bonus?
MACJAY
You know I respect your opinions while reserving the right to disagree with them(!)but I feel you are blinkered in your apportioning of blame for our housing crisis on immigration.
That,clearly,hasn’t helped. IMO,a given.
But.
1Corinthians 13:11
whats the directors salaries and bonus for last set of accounts ?
anyone ?
on a turnover of £52m
macjay1 for Neil Lennon on 19th September 2016 3:41 pm
WHAT IS THE STARS on 19TH SEPTEMBER 2016 3:31 PM
Yes indeed.
But in the meantime , is it reasonable that tax payers money in a country should fund the housing of the populace of that country first , before funding the housing of non tax payers from other countries ?
Is that a reasonable proposition ?
______________________________________________________
So can you provide any evidence that is or would be the case, or is that merely more obfuscation for the weak and tenuous arguments you have been forwarding today?
There have been a number of counter arguments and challenges to your position today; you have avoided each one by changing track and refusing to respond to any of them.
FAC the Act
KTF
Paul 67
How much do you think Celtic made from participation in the International Champions Cup this close season, I read here it was £3m euro per game, is that accurate? If so it throws your turnover figure for this year well out.
TURKEYBHOY on 19TH SEPTEMBER 2016 3:39 PM
RON67 on 19TH SEPTEMBER 2016 2:44 PM
TURKEYBHOY on 19TH SEPTEMBER 2016 11:30 AM
Just exactly what did Gamboa do yesterday,to be labelled a dud?.
i agree we have to give him time to judge , but yesterday he was badly at fault with his defending at their first goal, he failed to attack the player and backed off ,ending up turning his body goal side allowing the attacker to turn to his inside , poor play.
Your response just sums up everything that is wrong with football.Far too many watching Sky football,who take apart teams every time they lose a goal.Players getting damned for being out of position,not being fast enough to cover,taking their eyes off an opponent for a second.
I’am only interested in how we perform as individuals and more importantly as a team , does not get away from the fact CG defended very poorly at their first goal, ps i don’t have sky.
This is just a summary of the results not the statutory accounts, so no bonus info etc.
WEEMINGER on 19TH SEPTEMBER 2016 3:30 PM
MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 3:22 PM
To come back to your point at the end of the last thread. No, I wouldn’t blame the buyers. They shouldn’t have been presented with the opportunity in the 1st place. As has been stated the whole strategy was flawed.
The other aspect that’s been forgotten, is that the idea was also that people’s savings would be in their property then as they reached pension age they’d downsize releasing capital to top up pensions etc. Problem is ppl are getting to retirement and they can’t downsize because their kids still live at home unable to get on the property ladder and there’s also no affordable houses for them to downsize into.
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Shouldn`t have been presented with the opportunity in the first place ?
Why not ?
I believe in ownership. Do you ? Do you own anything ?
People were given the opportunity of ownership and they took it .
Kids not able to get on the property ladder ?
They also believe in ownership. Why ?
Because it`s human nature and nothing can legislate against human nature and be successful in the long term.
Celtic Development squad beat 1-0 by Ross County.
CELTS IN CRISIS.
BTW.
I refuse to respond to those who use abuse as an argument.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS on 19TH SEPTEMBER 2016 3:50 PM
MACJAY
You know I respect your opinions while reserving the right to disagree with them(!)but I feel you are blinkered in your apportioning of blame for our housing crisis on immigration.
That,clearly,hasn’t helped. IMO,a given.
But.
1Corinthians 13:11
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Bobby.
Hell`s bells.
One point I made.
It`s not Thatcher`s fault.
Macjay, no one owns anything in life. It’s just a loan till you die. Then someone else ‘owns’ it.
Especially property.
The Vote Brexit lies included the lie that over 50% of UK social housing was inhabited by “migrants”.-at the time that lie was being punted ,the actual figure was 8.6 %.
Compromise payments on contract termination – £715k
Was Ronny “mutually consented” instead of resigning?
That last sentence of mine reads terribly. You know what I mean though. I can’t be bothered rephrasing.
Davidopoulos
Was that not Derk?
BARNEY67 on 19TH SEPTEMBER 2016 4:03 PM
Macjay, no one owns anything in life. It’s just a loan till you die. Then someone else ‘owns’ it.
Especially property
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I agree.
As , I`m sure, would many property owners.
Now tell me about security for your loved ones.
Any ideas ?
VFR800A8 on 19TH SEPTEMBER 2016 3:52 PM
hello Bud,
caught up with blog yesterday, thanks for the kind offer to log on and try for ECL packages for me on satruday. I hadnt seen it at the time or i would have emailed.
cheers.
I actually got 2 packages this morning in the general sale category now open.
cant be too many left, as it was seats all over the place.
SOUTH OF TUNIS on 19TH SEPTEMBER 2016 4:05 PM
The Vote Brexit lies included the lie that over 50% of UK social housing was inhabited by “migrants”.-at the time that lie was being punted ,the actual figure was 8.6 %.
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You don`t get the irony in that ?
BMCUW
Did you get my txt? HH
Barney67
Oh aye, forgot about him.