Celtic’s turnover slipped 21.1% last season to £51.08m (2014: £64.74m), almost wholly explained by the drop from Champions League to Europa League competition. Operating expenses dropped by a smaller amount to £53.27m; higher than income, but by a very manageable amount.
The club’s cash position at 30 June 2015 was a positive £4.72m, although this figure will stray into negative territory during the season. Net exceptional costs were down to £740k, considerably less than the £4.089m paid out a year earlier, when the management team moved on.
Profit on the sale of intangible assets (football players) was £6.773m, down considerably from the £17.052m from the previous season, and a bit of a surprise given the expected impact of Fraser Forster’s sale to Southampton. It’s possible that Newcastle United received a dividend from the Forster sale. Total loss for the year, after interest, disposals and acquisitions, was £3.947m.
“Investment in football personnel” was up slightly to £9.42m, the amortisation charge for the year was £7.313m.
It’s clear that Celtic can continue to operate at current levels but the impact of Champions League revenue on all aspects of the club remains stark.
On the club’s wider place in society, chief executive, Peter Lawwell, noted:
“Charity forms a fundamental aspect of the club that we aspire to create. Charity lies at the very heart of Celtic; it is part of our DNA.
“I am delighted to say that the Club and its supporters does more now than we ever have done for charitable purposes, most notably Celtic FC Foundation, which continues to grow from strength to strength and to inspire all those involved with it.
“The continued commitment of our supporters, shareholders and partners is crucial; I thank you for that commitment, which we will do all that we can to repay.”
Only four days to go for the hospitality auction to win an outstanding day for three people. Lunch and drinks at the Walfrid plus watching Celtic-Dundee from the directors’ box, courtesy of Intelligent Car Leasing. Check out the ebay auction here. All proceeds to towards the incredible work of the Celtic Foundation.
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Camels?
Should read “games”.
Bliddy I-Pad predictive texting.
WM @ 5.33
He had been without a contract for nearly 2 years.
He has a history of various injuries that would make JF blush.
Worth a punt yes but not a huge signing on fee when there was and still is the chance that he will pick up another injury.
Every time he clears with his right foot I wave my head in my hands.
Ah the old excuses for failure are the best ones….21% drop.
Tell you what someone is having a laugh….at our expense.
As for Sevco(whatever)….these corrupt chancers think they can get away with anything, and of course, they will.
Handshaking is the name of the game….and the have all bases covered there.
They will be vindicated….we will be cheated, yet again.
Oh well…usual pish.
Hope you are all in fine fettle.
Hail Hail
Keeping Maggs company :)
Jungle Jim Hot Smoked on 11th September 2015 5:09 pm –
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With respect,I think that team would be gubbed.
Lustig is not fit or half fit,supported by Forrest as a back tracker who does not tackle or engage,add to that h Rogic,who although reasonable at Tannadice is too slow for this game.
Like him or not Johansen must play to nullifie Shinnie on the left,who will attack.
If you need a winger Mackay Steven should get the nod.
A team with maybe men will be beaten,11 players at 100% needed.
income dropped.
made a loss.
did peter get a bonus ?
thats all i am asking like ?
what was his total renumaration this time round ?
Saint Stivs
Saw yer post about your best mate regarding Annfield last night. Lost count of the number of times that has popped into my head over the last 38 or so years. is he still in the Port ?
Saint Stivs
I think we should just gift Celtic to PL….he is so fantastic, lets show our appreciation.
I’m going to send every penny ive got to him.
He obviously has a greater need for money than the average joe.
Lets help him:)
HH
Just out of interest, which players registrations were retained ?
I hope these ‘easy to understand’ figures will silence those who believe that ‘money grows on trees’ on the Celtic Way, and that we can SPEND SPEND SPEND!
The figures show, concisely and simply, that were it not for around £6 million profit from players, we would be running a £10 million loss every year without Champions League money.
The figures succinctly show that without bringing in players that we can sell on at a substantial profit, we would have to cut the football wages bill by £10 million per year.
That could quite easily equate to TWELVE experienced first team squad players – how would we do without say…
Gordon
Lustig
Boyata
Izzy
Brown
Commons
Biton
Griffiths
Stokes
Forrest
GMS
Armstrong
Why can’t the Board/Lawwell haters on here get ‘it’?
This is Scottish Football – we get nothing for nothing. Some people think we have “downsized” – well if we can’t get into the CL every other year, YOU AIN’T SEEN NOTHING YET!!
Sevco and Aberdeen could challenge us seriously, not because they are moving towards us, but that we are having to move towards them.
Any further drop in Season Tickets and Merchandising Revenue, will speed up this process.
This is not my opinion – it is cold economic FACTS.
Ha Ha….what a trick Pedro….income down by 21%….but bonuses are safe.
Ya beauty.
HH
How long can we keep running at a loss?
Never mind the new hun will be back next season, that should at least please the board.
Just read one of the Clumpany articles, a recent one about AMcC, this made me chuckle:
“I hear the Sevco Garden Gnome XI is about to start playing a lot better now that you’ve gone.”
It seems the Gardener has left the potting shed.
In a statement Sevco stated he worked for free, then took a 50% pay cut, impressive!
“During this period Ally worked without pay and later also took a 50% salary reduction”
Bloody geniuses.
Only another hour until the flight home:-)
Here was me thinking that the CW games and the EL would just about cover the CL disaster but if the board keep loaning expensive duds i suppose this will be the outcome.
Hope to god our coaches get the team right tomorrow, no more powder puff piss. The Dons and their comrade in arms Thomson will be up for this.
KTF
CAREFUL WITH THAT TAX, MOONBEAMS
On occasion,!!! :))
Missing PETEC lately.
TC45
That’s right bhoys…its no Pedro’s fault….blame the fans, we are to blame.
HH
Peter Lawwell did not lock himself in a wee room and cook the books before emerging today and lying to the world about the year’s figures. That’s actually not how Celtic Plc works.
Despite what you may surmise form reading back through the comments…
Paul67
Yip, no CL windfall football, and after the defeat to Malmo next years figures should be worse, because everything else drops accordingly.
No surprises, easy for the supporter to understand.
Chillingly obvious especially sitting in the bread and butter of winter SP hell games.
Madmitch – had he? Didn’t realise it was that long.
Kris Commons also signed an extension. He’ll no doubt have had a fee.
My point remains valid though. We’d all like things more broken down but we’re never going to get that. So the 4.75m in transfers + loan fees + signing on fees + contract extension fees could all bring us up to the 9.4m.
Yes there’s a degree of over egging the pudding and yes there’s a value for money question.
I don’t think there’s anything sinister going on. Though I think others inferred that not you.
SANDMAN
I woudnt say the PLC bonus culture is wise in this financial climate…especially when income is down by 21%.
Or am I just being daft?….or maybe I don’t understand “how it works”
HH
Walks into Tesco there…..lovely young blonde lady leaving store smiling at me, thinks~~~~~~ yiv still got it vp :O)…….then it dawns on me,Roy Croppie’s missus with her glasses on :O/ hh
DEILA the Dud costing the club millions by not getting us Champions league football. Maybe if we stayed at home during pre-season instead of flying all over the world.
Weeminger.
“The Board remains committed to ensuring that the medium and long-term future of the Club, and the Company, is secured.”
What does that say to you ?
Lennon’s passion,
We do not rely on European football, that’s what we were told by the executive.
So it makes no difference to the club or the company if we. Do to qualify except the kudos and a bit extra income.
Do to should read do not
The Green Man on 11th September 2015 6:01 pm
SANDMAN
I woudnt say the PLC bonus culture is wise in this financial climate…especially when income is down by 21%.
Or am I just being daft?….or maybe I don’t understand “how it works”
HH
================================================
Doesn’t sound like you do.
But don’t let that stop you greetin’ about intangibles…
HH
TC45 .. He’ll be locked in a room in Christian meditation .. Trying to come up with some answers, as to why we didn’t spend a chunk of VVD’s fee on a striker before the Malmo games ..
:)
Breaking News: King has decided to replace Tina Turner’s ‘Simply The Best’ with Cher’s ‘If I Could Turn Back Time.’
Please no CM, EI, JF or EA in the starting 11 tomorrow.
SANDMAN
Intangibles is it…what a load of bollocks.
Grow up.
What is it with the superior attitude…Who TF do ye think ye are…God.
Get a grip
HH
Canamalar – well I suppose I could choose to read it as there being two distinct parts to the business and both need protected. If one fails too dramatically the other will be brought down but they remain part of the same organisation.
Unlike where I work which separated the loss making section from the profitable one. Creating two businesses and protected one from the failings of the other.
Wee inter,
So incorporation means nothing and the huns are right ?
GOOGYBHOY ♥ CELTIC on 11TH SEPTEMBER 2015 6:16 PM
Breaking News: King has decided to replace Tina Turner’s ‘Simply The Best’ with Cher’s ‘If I Could Turn Back Time.’
Nice wan Googy……you should know the laws of time n physics are lost
in ole Glesga.hh
Weeminger even sorry
Save us from the Holy Willie’s ffs.
Its simple economics…those who run the PLC are responsible for the 21% decrease in income.
Please stop insulting us with this bs.
Its like a fecking personality cult on CQN.
HH
Canamalar – not at all but I think it’s possible to think of the business as being operating a football team and running a commercial dept and to stray into biology its an interdependent but symbiotic relationship.
While it might have been better to talk about team and company, it’s not really the club’s fault that TRFC have corrupted the terms.
Regarding King ..
How can you look into someone’s eyes, when they look like pi$$ holes in the snow .. And know if they’re lying ??
:)