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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. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    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

  2. 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

  3. 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. ;))

  4. 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

  5. Awe_Naw_No_Annoni_Oan_Anaw_Noo on

    Chairbhoy

     

     

     

    You cannot buck the market @Margaret Thatcher

     

     

     

    Unless of course it completely collapses

     

     

    GordonBrownSuperManCSC

  6. GlassTwoThirdsFull on

    Barry says Joey is an intelligent guy.

     

    Hmmmm – not sure that’s the best commendation.

     

    Follows up by saying “Rangers would have knewn that”.

  7. 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

  8. 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

  9. 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

  10. 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

  11. GlassTwoThirdsFull on

    A bad defeat to their arch rivals?

     

    Come on – the cup final defeat against Hibs was ages ago.

  12. GreeninbingleyinOslo on

    THE SHAMROCK on 19TH SEPTEMBER 2016 6:42 PM

     

     

     

    That’s a truly great read. Fascinating. Thanks.

     

     

    Off to investigate the magazine.

  13. Slight change in PL’s tone.

     

    Probably for first time Celtic’s paramount aim is CL qualification and not winning the league.

  14. KINGLUBO…

     

    Dinny chuck posting,your input’s always worthwhile.

     

    And your moniker’s magic. ;))

     

     

    HH

  15. prestonpans bhoys on

    Bada Bing,

     

     

    My thoughts too, the wide eyed boy always looks as if he’s just sat on a pencil , sharp one pointing up :-)

  16. 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.

  17. GlassTwoThirdsFull on

    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…..

  18. GlassTwoThirdsFull on

    Barry – “money is tight except at Rangers (sic) and Celtic”.

     

    Come on then Barry – spill the beans…..

  19. 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

     

     

     

  20. ....PFayr ..SACK THE BOARD on

    The expected turnover of £80m has been reflected in our transfer market activity

     

     

    NOT

     

     

    the time of the bean counter must end

  21. ....PFayr ..SACK THE BOARD on

    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