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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VFR
I could have been mind you :-)
HH
Huns and greenhuns aywiz have to go for their tea … even at 10.40 in the morning when you call them out … will still be on the next week spouting the same uniformed pash two days later . CQN is a home from home for them and with our PLC in situ who can blame them. Editorialy it is the same thing
HH
TET
Seconded
Well good news on the aul Account Front, we failed in all but one of our Football endeavours and still turned a profit. No Bad.
Like PL’s words, well the ones Paul67 quoted anyway… I believe we are now set on a path for success.
On the argument about housing in this Country…. It’s a none argument, in fact how anyone living abroad can understand it is beyond me… it’s perplexing the life out of people who live here.
The housing policy, like all of Margret Thatcher’s policies that I can think of is a disaster… we are heading for a distopian Britain for the majority of the populace.
Now I live in the home Counties… you can buy an ex-council house in a sink estate in this town.
Of course it will cost you quarter of a Million pound…
Tell me that’s not insane…
Hail Hail
TET / VFR…
Re Hillary,you forgot to add world’s greatest dieter to her list of qualities(???).
She went into a building last week and emerged about 2 stone lighter within hours. ;))
Baba
I saw that, quite amazing :-)
Just how thick are the septics ?
Did you know that also housed in that building where her daughter lives is a medical facility that has been bought over a while back by the Clinton Foundation, an amazing coincidence !!!
HH
EU Army INCOMING.
GATEstone
Chairbhoy
You cannot buck the market @Margaret Thatcher
Unless of course it completely collapses
GordonBrownSuperManCSC
Barry says Joey is an intelligent guy.
Hmmmm – not sure that’s the best commendation.
Follows up by saying “Rangers would have knewn that”.
“Rangers must have knewn about him before we signed him”
New manager Bazza? on Sportsound
Full STEAM ahead.
TET…
I knew her daughter had a flat in the building but wasn’t aware of the medical facility.Nothing dubious about that family surprises me though.Heinous,self-obsessed charlatans.
HH
I know I’ll be sadly missed but this blog is becoming far too political for me and way off the Celtic mark. On top of that there are these bloody pop – ups, yeah I know they generate revenue, but for goodness sake, they are unbearable.
Also too much bullying for me, KOJO was a classic example, he was so refreshing, albeit somewhat opinionated, but surely that’s what the site is about.!! Far to sanitised and sycophantic for me.
A fond farewell from me
KINGLuBO
THE EXILED TIM on 19TH SEPTEMBER 2016 6:17 PM
VFR
I could have been mind you :-)
HH
_____________________
Could’ve, would’ve, should’ve.
FAC the Act
KTF
Some bedtime reading? It is a Monday after all . . .
GLENGARRY – Glasgow’s Sacred Heart
The Story of Bridgeton’s Catholic Community and its connections with Celtic
https://theshamrockglasgow.wordpress.com/2016/09/18/glengarry-glasgows-sacred-heart/
KINGLUBO, it’s been a quiet day football wise so a wee discussion about other interesting stuff passes the time.
Keep coming in and raise another topic if the political one isnae your bag!
FAC the Act
KTF
A bad defeat to their arch rivals?
Come on – the cup final defeat against Hibs was ages ago.
The irony of McIntyre on Shortbread asking EBT Barry, of Barton undermining the manager…….
KINGLUBO
The blog has always been politically dominated, don’t let it put you off, keep posting.
HH
THE SHAMROCK on 19TH SEPTEMBER 2016 6:42 PM
That’s a truly great read. Fascinating. Thanks.
Off to investigate the magazine.
Slight change in PL’s tone.
Probably for first time Celtic’s paramount aim is CL qualification and not winning the league.
History being re-written on Warburton.
Was never that good, bad judgment on Barton, etc.
Q
Can’t have one without the other :-)
HH
KINGLUBO…
Dinny chuck posting,your input’s always worthwhile.
And your moniker’s magic. ;))
HH
Bada Bing,
My thoughts too, the wide eyed boy always looks as if he’s just sat on a pencil , sharp one pointing up :-)
I really Wonder why the POPE is becoming such an Icon.
I know the POPE makes me really think with EVERY public utterance.
I know I’m not the brightest, but………………………………..
I know Nothing, Nothing at all.
Guys on RS now slating Sutton for saying the job is too big for Warburton. Same guys that spent the whole of last season saying that about Ronny.
Self-awareness in short supply…..
BFSDJ is thick as Barry White’s shite on Boxing Day. ;))
ROGERMELLIEcsc
King Lubo- scroll past the stuff you don’t like mate
Happy and cheery as ever on here I see ;-)
Barry – “money is tight except at Rangers (sic) and Celtic”.
Come on then Barry – spill the beans…..
AWE_NAW @ 6:33 PM,
You know you can’t buck the Market… but you certainlty can control it and manipulate it..:)
In the early ninties there was a recession, interest rates rose sky high, house prices fell, many lost their homes, those who didn’t paid 70% of their income on morgage payments.
Of course apart from the “real” middle class who were fine – unlike the yuppies.
Result… Tories out of office for over a decade… Oops.
So when Mr Brown is in charge when Capatilism has one of it’s “corrections” cough! cough..!. You know what… that’s not going to happen. House Prices were kept high through the worst recession in history.
Instead of or as well as QE, here’s something that could have been done in 2007…
The Government start building houses…
Helps the building industry which is on it’s knees… reduces the huge deficit in Housing Stock and we get all the knock on benefits to the economy.
Of course threatening the house prices was a huge No! No! As for introducing Keynesian Economic policies… the dogma is never going to allow that…
So we are now in a complete mess.
Yet some still believe the Capitalist Myth.
Hail Hail
Kinglubo
Once the political stuff starts on here it usually becomes an angry place – just scroll by
Keevins proving you CAN always sink lower.
PETEC @ 6:58 PM,
I like the Pope… and not just because he’s a Jesuit:)
Hail Hail
BABA71
The medical facility info is on this vid, about 5 mins + in I think.
https://www.youtube.com/watch?v=LJXSd-RPDSU&list=LLmlbo-FyVlNC3QM7E89NTiQ&index=5
HH
The expected turnover of £80m has been reflected in our transfer market activity
NOT
the time of the bean counter must end
Incidentally
The last sentence of the article
Was that meant to cause some excitement
What difference does it make to ordinary fans that the turnover increases