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Celtic accounts show small profit and turnover increase

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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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345 Comments

  1. Owning stuff is the only route to true happiness.That’s why the West is overflowing with joy and almost utopian societies whilst the developing world has nothing but misery.

     

    Sometimes i’m overwhelmed at the amount of smiling contentment all around me.When it gets too much I just jump on a golden plane and fly to somewhere in the 3rd world just to get a wee taste of penury so as to remain balanced.Then I fly back home and purchase stuff so as to regain happiness.

     

    l always say to my kids,”Forget benevolence,fairness,compassion,and love,if it’s true happiness you’re after you must buy stuff.”Hopefully the take on board what i’m preaching and are so fabulously rich when they’re older that they can buy their dog a boy.

  2. Aberdeen play Sevco on Sunday but I just noticed that although both teams have mid-week games, Sevco play on Tuesday whilst Aberdeen play on Thursday. I realise that the Dons played yesterday but did they have to?

     

     

    JJ

  3. ..

     

     

    CaptainBeefheart..

     

     

    I’m Not Surprised.. Was Wayne Biggens Not a Goal Keeper..?

     

     

    Ps.. Are there Still Socialist Countries..?

     

     

    and don’t be Googling in on Your iPhone7 Plus..

  4. Captain Beefheart on

    Summa, socialism has as much relevance as a Beta max recorder. Marmite smeared with turd is more popular.

  5. Another wee round-up request .

     

     

    The Kano Foundation is holding our annual bucket collection at Celtic Park before the killie game on the 24th of September. This game also marks the 5000th child that we will take through the turnstiles to see Celtic.

     

     

     

    We are really keen/ desperate to have as many people help us with the bucket collection as possible as every penny raised goes towards allowing more children to get to see Celtic . If you can spare an hour or so please get in touch with us as we would be absolutely delighted to have as many people as possible rattling buckets. Please drop a note to Sannabhoy at sannabhoy@thekanofoundation.com or go online to our website at http://www.thekanofoundation.com/call-for-volunteers-2 . Please, every single volunteer is worth about £50-100 to us so the more we have , the more we can raise and the more kids we can take to Celtic Park. We are now up to 102 child tickets at each game meaning we can now take almost 2000 kids each season.

     

     

     

     

     

     

    Thanks and Hail Hail

     

     

     

     

     

     

    Sanna

  6. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    CAPTAINBEEFHEART

     

     

    HOTSMOKED makes a good point re Socialist countries. Never been one.

     

     

    As for relevance,even the US is waking up to the realisation that unbridled capitalism has failed all but the über-capitalists.

     

     

    Hence Bernie Sanders and various other organisations.

     

     

    That’s not so much to defend socialism,it is merely an untried construct. But how do you defend the epic worldwide fail of capitalism?

  7. CAPTAIN…

     

    Where/when did you taste the marmite n shite combo?

     

    I’ve never even saw it on a menu,or supermarket,or anywhere in Greenock for that matter.

     

    I reckon there’s at least one socialist in the town though.

     

    Seems marmite and faeces have still to take hold here.Probably some pesky socialist that’s keeping it from us.Damned reds!!!

  8. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    PLC yet again turn a marginal profit .

     

     

    Was how surprise am I . KPI bingo

     

     

    Those billionaires are so good to and for us so they are. First year economic students wet dream material don’t forget to big up the charitable arm

     

     

    Saatchi&SaatchiCF

  9. Captain Beefheart on

    Bobby, never been a Socialist country? You obviously subscribe to the ‘wusnae us’ argument. Naw it was them. The system always fails. That’s why no socialist moves to socialist dumps. Regards by the way.

     

     

    Baba , apologies for mentioning such a combination. More hidious than the Krankies combination.

  10. All these anti-socialist sentiments today.

     

     

    Posted on a blog that carries the name of a club set up to help poor people.

  11. Kieran T was Excellent 2nd half.

     

     

    I defo want him to be given a rest when POSSIBLE.

     

     

    He will get Physically Stronger the more he plays First Team games.

     

     

    Kieran TIERNEY.

  12. SANDMAN on 19TH SEPTEMBER 2016 5:43 PM

     

    All these anti-capitalist sentiments today.

     

     

     

    Posted from iphones…

     

     

    ##

     

     

    By people using language and words and stuff.

     

     

    Ironic, isn’t it?

  13. BobbyM

     

    Uber capitalists is it.

     

    Take the Clinton Foundation as an example, when they were fundraising for the Haiti appeal, they raked in over $13 Billion, that is $13 thousand million, just think about that for a minute, less that 6% was spent in Haiti, the rest went on expenses.

     

    That mi amigo is Uber Capitalism at it’s worst, and they are thinking about making that murdering, thievin, war mongering bitch president.

     

    HH

  14. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    BABASONICOS 71

     

     

    Broad church,mate. It’d be bliddy boring if we all agreed wi each other.

     

     

    Btw,I agree wi your last paragraph-obviously-and I’m sure that the poor in whose name the club was set up are proud of our progress since,while largely remembering from where and why we came.

     

     

    HH.

  15. GreeninbingleyinOslo on

    MACJAY1 FOR NEIL LENNON on 19TH SEPTEMBER 2016 4:01 PM

     

     

    …not Thatcher’s fault.

     

     

    ————

     

     

    Margaret Thatcher made ‘the right to buy’ a fundamental plank of her own velvet revolution of the 80s, along with freeing people from the unbearable yoke of union membership, state-run services, any idea of social responsibility, or the notion of collective good.

     

    “There is no such thing as society.” Only, by extension, individuals and, ergo, only self-serving greed.

     

    She is on record (abundant sources) as enthusing over making Britain a ‘land where everyone can own their own home’

     

    She is also on record (not quite such abundant sources) as acknowledging that ‘everyone’ didn’t quite mean everyone, and that her Milton Friedman-inspired social experiment meant that there would be 10% to 20% at the bottom of the heap who would be sacrificed.

     

    And so it proved. I was one.

     

    The Conservative government, under her, sold off the country’s prime council/social housing stock at giveaway prices to buy votes. They replaced the council housing stock thus taken out of circulation with – nothing.

     

    Harold MacMillan called it right. So, in the end, did Geoffrey Howe.

     

    So to go all wide-eyed and hands-in-the-air, and say that the present scandal of homelessness and lack of affordable housing is nothing to do with her is revisionism at its very worst.

     

    And then to play the immigrant card….

     

     

    Now back to the fitba.

  16. ernie lynch on 19th September 2016 5:53 pm

     

     

    ……………………………………………………………………………….

     

     

    Babel eh?

     

     

    The Birds of Prey are the best to Witness but the smallest Birds are also the best to see.

     

     

    My Dad is in Switzerland (right now) and he will be seeing Birds (He possibly) has never seen before.

     

     

    Looking @ the photos the pints are Larger in Swizerland. ;))

  17. Captain Beefheart on

    Bobby,

     

     

    Will be in Prague. Thanks though. Having never met a CQNER who isn’t a gentleman, I don’t doubt that all will enjoy themselves.

  18. GREENINBINGLEYINOSLO on 19TH SEPTEMBER 2016 5:58 PM

     

     

    Well said that man!

     

     

    FAC the Act

     

     

    KYF

  19. If only I could get a seat in the houses of parliament…..I’d be in the feckin gaff for five minutes and then I’d change my name by deed poll to….Guy Fawkes !

     

     

    That would out the wind up ’em !

  20. Captain Beefheart on

    Exiled,

     

     

    Apart from the personal abuse directed to her, I, much to your amusement no doubt, agree with you. The Clintons are up to their necks in blood and money.

     

     

     

    Off ski.

  21. Maybe I might be that pig sh!t dude.

     

     

    ;))

     

     

    Let people BUY the hoose well discounted after Renting,

     

     

    Sounds good to me.

  22. THE EXILED TIM on 19TH SEPTEMBER 2016 6:12 PM

     

    CB

     

     

    No abuse from me, she is a murderer, a thief, a war monger and a bitch, the truth is not abuse.

     

     

    HH

     

    ___________________

     

    Just realised you were referring to Clinton and not Thatcher!

     

     

    FAC the Act

     

     

    KTF