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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Was there no a wer shout fur Shay?
http://m.youtube.com/watch?v=OhsR6IdtWQE
H.H.
I have a confession. I just like arguing.
Neil Lennon left a hefty chunk of cash in Leicester to live the dream
He might have earned a few bob in doing so but was worth every single “thin dime”
I’m sneaking out to meet the big bro for dinner…. will check in later…. until then….
as salaam alaikum
There’s a snyde ring to some the persistent invective aimed at the Club and its custodians………
They never, ever post anything that expresses a love for the Club, no reminisces, no anecdotes
no nuthin’………..
just the type of insider “fitba-bag” guff beluv’d of sweetie-wife agents, bitter ex-pros and hurtin’ hacks……
imo, natch.
Celticrollercoaster,
No hassle, how many do you want?
Clogher
I wonder if the people who are saying there’s no way we paid £5.5m for Simunovic will be saying “why did we waste £5.5m on this dud?” if he doesn’t work out…….
https://pbs.twimg.com/media/CONDLriWsAAGrBq.jpg
So do I Jock, so do I …
HH
Few old heads ? Imagine, signing a Jock Stein or Ronny Simpson to enhance the squad these days ..
PL and DD would be having convulsions!
Canny Punt Them!!
https://pbs.twimg.com/media/COVFfbQWcAIOB0d.jpg
Red hot on a cold night…
HH
Great photie Roy c
neganon
The £4m exceptional costs in 2014 was a write down on the value of the players transfer costs held in the balance sheet (extra amortisation by another name). Nothing to do with termination costs of the management team. We did however pay £600k in termination compromise payments in the same year
HH
CRC
Was chatting with a mate who happens to be a zombie current bun (they exist in the dark reaches of the huniverse)
He was trying to explain why king was not needing to put in the 20 million he promised as he said we do not need it at this moment in time.
I then asked why the company was gona exist on short term loans from the 3 bears??
He explained that was what the comapny required. Short term investment instead of long term.
Took a deep breath and asked if it was like a payday loan??
When your credit is shot to shit and you cant get an overdraft or a loan you get a payday loan.
One that is front loaded and designed to fuck you in the ass.
Like rangers not being able to secure long term funding they take the short term business payday loan that will, in likely terms, leave them with a sore ass!!
There you have it ghuys. king has publicly admitted that the huns cannot get credit for an appropriate long term business loan and are now preparing to bend over and get a$$ raped for a business type payday loan.
Safe to say, he aint talking anymore!!
https://pbs.twimg.com/media/COpfoFPWEAAoJul.jpg
Mark signs
HH
Roy c
The Jock wan :O)
roy croppie
Belter
https://pbs.twimg.com/media/COayrmtUsAADRkg.jpg
No messing
HH
neganon
why do you quote 4m as a figure when the best you can come to, after extreme interpolation, is nearer 3m? Extreme interpolation? Well Paul doesn’t say if the payoffs were a part, significant part or all of this 3m odd difference in exceptional cost. but you do plus an extra chunk.
Bankiebhoy,
Indeed. And most will skulk away after a win or hide on a good news day.
To me, there’s ‘a want’ about anyone who hangs around a website they don’t like for so long.
HH
Sa’allah malekum sallam?
http://m.youtube.com/watch?v=hD1ZgJ-t0v0
H.H.
Bankiebhoy1
They won’t hang around long, Roy C is the antidote of the wind up merchants……
It’s all about opinions but as you say, some never have one positive thing, which is all well in good, many posters on here have seen worse Celtic times than this !
Just read the year end statement
Releasing this sort of stuff at 4.20 pm on a Friday just before stock exchange closes, is, IMHO , burying bad news.
Also, I note the board saying they chose to retain player registrations.
I read that as “we backed the manager & held off selling VVD to try and get in the CL.”
That plan failed.
However, the sub plot is the board appointed a rookie, and IMHO, have backed him as much as they reasonably can, and he has now blown three chances to get into the CL.
The current strategy is now looking distinctly high risk.
We have been given 3 years of a ‘free run’ to put clear daylight between ourselves and the team from the south side.
At this stage it looks like that plan will backfire, and more ‘ management of expectations ‘ followed by downsizing will occur.
We have a rookie manager, who has yet to win a game he shouldn’t.
Our year on year results show an £11m negative swing, we have already flogged our most sellable asset, and I don’t see any more £10 m ‘sellable assets ‘ emerging by next May.
The saddest / funniest bit in the statement is the comments on youth development, it could have been cut and paste from numerous annual reports over last 15 years, but bottom line is the youth development strategy from 15, 10, 5 years ago is proving less successful than ever.
This time next year, I suspect we will be in a similar position – no CL qualification, no more playing time for youth players than present, declining crowds, lots of project signings.
IMHO these are real issues facing our club, and I am sure the board must be extremely grateful for King, Green & Whyte popping up every few weeks to create a suitable distraction.
https://pbs.twimg.com/media/CNy1u84WgAAdKfi.jpg
Doylie in the Bernabeu
HH
Perspective.
We are a club working and plying our trade in Scottish Football Leagues.
Celtics turnover for the WHOLE of last year was less than some players are being transferred for in Europe ( incl EPL ).
Next season, an English team in the EPL will match Celtics turnover if they are shown live on TV 5 times ( receive £10m per live game ) without even selling one jersey.
Prime KPI for all Celtic board members ( not just Peter ) get us into the revenue stream or move on.
Hail! Hail!
https://pbs.twimg.com/media/COayekfUYAAvyGN.jpg
Stanton
classactCSC
https://pbs.twimg.com/media/COa4nKQVAAA_txJ.jpg
Tommy
passionplayCSC
http://m.youtube.com/watch?v=YmG2mVDNcKw
fukkit y not …..;-))
H.H.
Geordie Munro
some 15 months after Ronny arriving, I am personally still struggling with the 1 up front, particularly at Celtic Park, against vastly inferior SPFL teams ( bottom six)
We may have conceded 8 goals less, but, teams are getting more chances against us, as getting through our system easier ? Look at goals against this season, as opposition teams get a better understanding on how we play
Just a personal opinion :-) and will support Ronny through rest of this season
Hail Hail
Bankiebhoy1 .. Demean Scotland again .. Calling her Scoddland ..
I’ll personally come over to Ireland ..
And toe yer bawz ..
Behave, Peter ;)
https://pbs.twimg.com/media/COa7_f6UYAEs4bA.jpg
Ole Anton in the wars
scoredagainstthemCSC
Bankiebhoy
Fair point some of these trumpets never have a good word to say about the Tic, and are gleeful when we have a reverse.
Neganon2 that’s you for the avoidance of any doubt.
https://youtu.be/Qw4kPe1UOp0
Then Jericho
Big Area
livingfarbeyondmymeansCSC
Roy C
Stanton only played 2 seasons with us ( actually less )
But what a player, should have signed him much earlier
GBS
Mentioned Stubbs earlier, there was another CH who could play the game, superb passer of the ball, either foot :-)
Hail Hail
Gordon/SFTB
If you are looking in. Bobby Evans vs France 1958. Not tracked the other yet
HH
CRC
https://pbs.twimg.com/media/COI25JtWEAEFS9f.jpg
Danny and Jose Pirri
lovehimCSC
could this be true?
we feel so small because EPL are so big.
EPL are so big because sky pay so much.
Sky is bought by us.
We make us feel so small.
however I think sky have overstretched themselves with this new deal and when they fall fit teams with healthy balance sheets could inherit the world!!
https://pbs.twimg.com/media/COm3j79WcAAK2ft.jpg
Jinky wins it…
headandshouldersaboveCSC
Cowiebhoy
2 strikers a must in the SPFL.
A no brainer. No point in 4 defenders either at Celtic park.
The games simple. Take your pick Ronnie:
2 forwards nearer goal, means more conversions.
Or
4 defenders 2 of whom are given license to get forward and find one forward in a packed box…..