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Celtic hit £101m turnover

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Celtic reported turnover of £101.6m for the year to 30 June 2018, the first time the club broke through the £100m barrier.  Just as income rose from £90.6m the previous year, costs rose to £87.1m (2017; £76.3m).

The club was profitable to the tune of £17.3m, buoyed by gain on the sale of player registrations of £16.5m.  Without Champions League football, this season’s results will be significantly different, but net cash (after debt and similar were deducted) was £27.0m, so we can continue to operate without the need to cut costs.

The most striking aspect of these figures is that, with the current wage structure, we are roughly breakeven with Champions League income (before player trading).

We are in the middle of first team contract renewals, which will push wages higher still.  We are increasing our cost structure despite the lack of Champions League football, but this is necessary.  There are risks (transfer market crash), but these are no more relevant to Celtic than anyone else.

We are never going to guarantee Champions League money every season (no matter how easy your pal tells you it is), so buying wisely and selling before players exhaust their contracts or lose form is critical to the operation.  Therein lies the challenge – which is also easy, just ask the same pal.

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543 Comments

  1. G67

     

    I cannot understand why we are being run by our PLC, the way we are. Mind you, I cannot understand accounts either. ?

  2. NorrieM

     

     

    There is a separate line for cancelled contracts so it looks more like someone still on the payroll?

     

     

    HH

  3. Just seen a guy walk oot a shop with chips n cheese. He opened up the lid and the wind blew aw the cheese straight aff it. ?

     

     

    Hawd oan tae yer Chips n Cheese folks !

     

     

    smiley Ronaldo gets a red thing

     

     

    Braw

  4. MIT

     

    Johnny Marr on Geetarr is my favourite ever guitarist ever. Jean Jacques Brunel my favourite ever bassist. Animal my favourite ever drummer ?

  5. So did Southampton pay the full £7.5m for Stuart Armstrong in June ?

     

     

    I would have thought with profits of £17m + being declared ( and tax to be paid on such ?)

     

    We would have withheld this money into July ???

     

    Also over £18m costs for non football operations ?

  6. NEUSTADT-BRAW on 19TH SEPTEMBER 2018 7:53 PM

     

     

    Very good, in fact a real tonic as I am a bit low tonight. I had that link saved on a previous laptop and lost it. Very good Glasgow wind up. HH

  7. NORRIEM – If the deal went through before 30 June then the transfer fee was ‘earned’ in that year and taxable irrespective of when the cash was/is actually received.

  8. now that the accounts are out …. did we ever find out how much we pay to heat PL’s driveway? is that some or all of the 18 million in non-football expenses that Norrie was asking about?

  9. JMCCORMICK….

     

     

    take care pal….ynwa

     

     

    smiley dinae let the bassas get you doon thing

     

     

    Braw

  10. I’VEHADTOCHANGEMYMIND on 19TH SEPTEMBER 2018 9:53 PM

     

    87 mil costs – fuggin hell

     

     

    ———-

     

     

    Creative accounting.

  11. CELTIC1MEMBER1VOTE on 19TH SEPTEMBER 2018 7:43 PM

     

    Context .. £100 Million Turnover ..

     

     

    Brendan arrives when turnover was approx £50 Million ..

     

     

    Year 1 Brendan grows turnover to approx £90 Million ..

     

     

    Year 2 Brendan grows turnover to approx £100 Million ..

     

     

    Year 3 Peter reduces turnover to approx £ 75 Million ..

     

     

    The Manager then leaves ..

     

     

    Year 3 could have been turnover of approx £ 105 Million ..

     

     

    Year 4 could have been turnover of approx £ 110 Million ..

     

     

    Year 5 could have been turnover of approx £130 Million ..

     

     

    Year 5 would have had significant extra turnover due to 10 In A Row ..

     

     

    We’re highly unlikely to see a £100 Million turnover or Champions League Qualification again for the next 10 years ..

     

     

    I hope I’m incredibly wrong, but as a club we’ve lost our momentum, and it will

     

     

    incredibly difficult now to get it back to previous levels, particularly where

     

     

    Champions League Qualification is concerned ..

     

     

    That Peter and Brendan fell out, will go down as a disaster for our club ..

     

     

    The club really did have a 5 year golden opportunity, which meant buying the right players at the right time, to give the manager the best chance possible to continue with year on year progress ..

     

     

    Unfortunately the shambles of this summer, has now destroyed that opportunity, hence why we’re now playing Europa League football, and will have a drop in turnover of at least £25 Million ..

     

     

    It’s really is incredible, that yet again, another golden opportunity for year on year continued progress, has been lost again !!

     

     

    ———

     

     

    Hard to argue with the gist of this. Imho.

     

     

    HH jg

  12. J McCormick

     

    Keep da chin up sir.

     

    Looking forward to meeting you on Friday. The Guinness too. ?

  13. BP … I’ve been waiting (patiently, I might add) for you to post a picture.

     

     

    Better get on that!

     

     

    :)

  14. The Brits. Are Beyond. Taking. The Piss.

     

    “[May] plans to ask EU leaders over dinner in Salzburg on Wednesday night to imagine how they would feel if their country was effectively “carved up”.”

     

     

    smiley the cream of the Wastemonsters thing

     

     

    Saor Alba

     

     

    Braw

  15. MIT

     

    Some of that 18 million is probably for the reseeding of the middle third of the pitch after every home game.

     

    It’s taking damage from heavy foot traffic due to us spending about 99% of the game in this zone.

  16. glendalystonsils on

    TOBAGO STREET,

     

     

    Have to concur. Celtic Sentinel seems to be a hotbed of those who are of his thinking. Why don’t all those of a similar mindset not just join that blog?

     

     

    CQN seems to be despised by many on here these days and some seem to come on merely to attack Paul67. Sad. They waste their own and everyone else’s time.

     

     

    GeespeaceCSC.

  17. celticrollercoaster on

    Neganon- I think we are trying to get to £100m in cash at the bank as well as turnover:-)

     

     

    I do not know why.

     

     

    NorrieM- Re Stuart A- the link below ( if correct) suggests that the player registration was 1 July 2018, so profit and indeed cash would not be included in the declared numbers to June. When the full accounts are published we may be able to clarify/understand better.

     

     

    https://www.transfermarkt.co.uk/stuart-armstrong/profil/spieler/130765

     

     

    HH

     

     

    CRC

  18. Off tonight to see the band with – depending on who you ask – either the best band name ever, or the stupidest band name ever

     

     

    The The

  19. James

     

    God rest the soul of Billy McKenzie. Met him when he was in a dark place. Breaks my heart thinking I could have helped him more.

     

    He was playing scheme boozers in Glasgow for his drink and drugs money. So sad to witness. May he RIP

  20. prestonpans bhoys on

    It seems there is a concerted effort to minimize and criticize the milestone revenue achievement under the present regime.

     

    £100+ MILLION

     

    I expect it from the MSM. For instance the BBC report buries that number well down their article which is focused on the pre tax profit figure of £17 million.

     

    However, I find little joy on here either.

     

    More carping about what is wrong instead of what we got right.

     

    Even a scenario of revenues dropping next year when the manager leaves. A manager who is still under a lucrative contract.

     

    For the love of God, take some pride in our achievement and have a positive outlook for the future.

  21. Jamesgang

     

     

    I have always thought that DD would do a City Airport and hold on to us until we made a move and then sold us for a pisspot ful of money…

     

     

    but, increasingly, that seems unlikely to happen ….

     

     

    so, are the books being fattened to make us more attractive to a purchaser?

  22. ***Last Man Standing 11 Update- starts Saturday 29th September 2018***

     

     

    Good Evening folks

     

     

    We are up to 78 entrants and counting…….Still plenty of time to enter. Email us at cqnpredictor@gmail.com

     

     

    Our free additional entry for hitting 67 goes to MOBYFUGRUMBLE. Next one is awarded at 88 entries.

     

     

    A little bit about our Lisbon benefactor who will receive 80% of the donation pot.

     

     

    Eileidh got her moniker “Puddles” from splashing about outside the main entrance at Celtic Park back in May 2015 after our very own Mouldy67, Robert, Kev and Steve ( Rhide2cure) had cycled from Forres Mechanics to Paradise in support of her treatment for neuroblastoma in the US. Sadly, Eileidh lost her fight, just like Wee Oscar to this horrible disease in July 2017.

     

     

    The “Eileidh Rose Puddles Project SCIO charity was set up in Eileidh’s memory by her mum Gail, to support families (with children under 16) living with life-threatening or terminal illness & through bereavement. They provide emotional, practical & financial support including support groups, bucket list support, making memories, financial grants, in hospital entertainment & days out.

     

     

    https://www.justgiving.com/eileidhrose-puddlesproject

     

     

    Last Man Standing 11 is delighted with your help to be able to support this worthwhile cause

     

     

    HH

     

     

    CRC

  23. NEUSTADT-BRAW

     

     

    Thanks, my sentiments exactly. I’m a pretty good counter puncher. As Nelson Mandela said “ I never lose; when I don’t win, I learn”. I am paraphrasing but the message is clear.

     

    Another great quote to live by ….” never look down on anyone unless you are offering to help them up “. Take care everyone. HH