Celtic’s revenue for the interim six months to 31 December 2013 fell 11% to £44.8m (2012: £50.1m), while operational expenses also fell, by 7%, to £34.3m. The club had £5.7m cash in the bank, £5.6m more than a year earlier.
A few factors behind the figures:
We played fewer home games, 16 as opposed to 19 the previous season, and although you may pay your season ticket up front, the club only recognises the income when games are played (cash at bank is recognised as soon as your payment lands).
Profit was up to an incredible £21.3m, from £14.9m), largely as a consequence of the sale of Victor Wanyama, Gary Hooper and Kelvin Wilson last summer. Without wanting to go into the who ‘A word’ (it’s not 2004), money coming in from player sales goes straight to profit whereas money going out on player purchases hits profit gradually over the period of the player’s contract.
Investment in players was almost identical to the previous year, £5.0m from a 2012 figure of £4.7m.
Financially these are great figures but there are potential weaknesses lurking. The club are absolutely dependent on reaching the Champions League group stages more seasons than not. This brings significant revenue – and supports whatever player valuations the club will be able to achieve should they sell. It also acts as the most effective tool to attract talent to Scottish football.
Finishing fourth in the Champions League, not second, is the most significant factor in the interim drop, but it will have a more significant impact on the second part of the season, which will be without a knock out stage round.
Celtic are still repointing the club away from the arms face they fought with a lemming club but they have delivered the key on-field objectives, which in itself takes care of the finances.
If you would like to read the new CQN Magazine, GO HERE to read properly, and for FREE, the graphic below is just a taster.
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Livibhoy-Very good point,their desperation getting more evident by the day,1/4 Season Tickets,pay at the gate for tonight……..
Livibhoy,
Exackerly.
3rd tier game then national final next day?!? Aye right.
Paul67,
I think the newer CQNers would benefit greatly from a wee discussion of the “A” word.
Great to see Fergus getting honoured.
Not so great that Murrayfield has been selected for the CL qualifiers. Firhill for thrills might have been a better choice; anything but that wee midden in Govan.
Brilliant, if! You like bagpipes, I do ;)
The Red Hot Chilli Pipers cover Avicii’s “Wake Me Up”.
http://wimp.com/piperswake/
Bangura
THe bhoy who put the Mo in Amortisation
Gordon_J backing Neil Lennon @ 14:28 on 7 February, 2014
Murrayfield seems like a sensible decision to me, even if it is in that Embra.
———–
Steady …. I can see Murrayfield out my Corstorphine window and the Roseburn Bar is my local, so I’ll be making a ‘list’ of undesirables for the staff based on malcontents on CQN and those who disparage Scotland’s scenic capital !.
Of course generosity at the bar at CQN10 could ensure smooth transit and a good spot at the bar !! CQN Beanie or badge wearers get priority ….
At last a real ‘home’ game and just a gentle stroll over the golf course too …
Tony @1713
I think the boys are giving that a wee airing at the rugby tomorrow. Quite catchy.
Embramike @embramike 27m
@BBCSportScot @pieandbov Misreporting again ! Profit before tax (whole operation) up from £14.9m to £21.3m, Don’t tell part of the story!!
… My reply to misleading BBC article headed ,,,
BBC Sport Scotland @BBCSportScot 58m
Celtic report profits & revenue fall: Celtic report a drop in profits and revenue for the second half of 2013
now reporting .. “Celtic profits boosted by player sales, figures show” !!!!
And my last one today for all you chess players, I hope you all enjoyed those wee posts ;)
Chess: The mathematics behind the “knight’s tour”.
http://wimp.com/chessmathematics/
Armagedon in dundee
http://www.bbc.co.uk/sport/0/football/26079931
Guys
I missed the Bus/Boat with the CQN 10 dinner, Is their any spares going a begging, or if not how do you get on the reserve list ?
tonydonnelly67
Did you forget that Celtic is open to all?
The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these interim financial results.
……………………………
“reasonable expectation” we can rest easy lads …braw ………..Huntertainment?oh yes ………….awfy braw
GlasgowDave
celticquicknews@gmail.com
To get onto the waiting list.
starry plough is neil lennon
17:26 on 7 February, 2014
tonydonnelly67
Did you forget that Celtic is open to all?
——————-
Sorry don’t know what you ment there?
Fixed Odds Time
Head to head stats:
Liverpool have won 1, lost 3 in last 7 in this fixture at Anfield.
Southampton have lost 1 in 12 at home to Stoke
Ditto. Sunderland v Stoke
Yeovil v Leeds. Have played in total 7 h and a. Leeds w6, drawn 1.
Brentford v Crawley. Have met 4 times in total, Brentfprd 100%.
Tranmere at home to Preston. In 9 visits, Preston have drawn 3, lost 6.
Northants lost 1 in 24 at home to Plymouth.
York v Cheltenham. York d1, lost 4 , last 5 in this fixture at Yprk.
Form notes
Blackpool on the slide, at home to Forest on a very good run.
Birmingham drawn 6 of last 9.
Leicester, 100% in last 9.
Sheffield We’d no losses in 10.
Doncaster unbeaten in 4.
Brentford won 10 from last 12..
MK Dons lost last 3 and no goals scored.
Chesterfield won last 3, away to Scunthorpe who have drawn 4 in a row.
Oxford improving. Lowly north ants signs of improving.
Good luck, HH
Paul67 – thanks for the quick dissemination of info as always, Paul.
Am I right in thinking, tho, that as of season 2015-16, when the new BT deal kicks in, that qualification alone for the CL group stages brings in a £20 million plus basic gratification?
What an incredible incentive for the future that would be.
pogmathonyahun aka laird of the smiles
15:47 on 7 February, 2014
You see my post earlier bout Badges, how much?
Keep the Faith!
Hail Hail!
My last post not for pog…it was for:
doc is neil lennon
17:34 on 7 February, 2014
Keep the Faith!
Hail hail!
Murrayfield – Having to play arguably the most important games of the season at an away venue against sides who are probably halfway through theirs is will be dodgy.
Ok not read too much over the last few days or so, due to travelling, but suffice to say, are Celtic goiung to play our CL Qualifiers at Murrayffield?
HAIL! HAIL!
Token
hankray
I suggested that earlier. Other than prestige, which will come with little money on the back of it, what is in it for Celtic to host the CG if in the end it contributes to us losing many millions through not qualifying for the CL group stages. This is a huge gamble imo but I guess covered by the fact we can sell Fraser or Virgil if the whole thing falls apart.
21.3 Million profit in six months!
Oooooofffffftttttt CSC
aye Livibhoy …you are bang on there….surprising the Sleekit one never mentioned that ,or the TV people.The groundsman could have sorted that argument out ,too easy though…..hahahahaha good for the Huntertainment value though ….
braw
ww.heraldscotland.com/sport/football/lawwell-the-best-stadium-won-the-league-cup-final.1391794807?
PL hands Sleekit his tea.
bighsuggy,
stats in the ole footy mean feck all.
This i know all too well as i study them rather vigourously and ap[art from the odd line here and there…….my coupons go dooooooon like a roger moore….and we’lle leave it there if ye dont mind!
HAIL! HAIL!
Token
Tonydonnelly67
Seen your chess posting. The Brazen must be a right intellectual type pub
good evening record breakers
I’ve a kronenbourg, a kebab and a knackered sevco, happy happy day
weather lookin nasty with rain and gales for the game tomorow
glad im not in the bottom tier
oh….hang on….
Am I right in saying that Celtic Park is only being used for the Opening Ceremony on 23rd July?
That would clash with our first CL qualifier and whoever it is we should be able to beat them on Glasgow Green! It was Cliftonville last year and presumably we would have our home venue back for subsequent qualifiers?
Woohoo another great balance sheet, working tomorrow but might print it off and keep looking and reading it instead of listening to the match. Let those workers at celtic park eat cake, we cant afford to pay them the living wage!!! Long live the Plc….
As long as Celtic..
Break Even Steven.. in the Financial Dept.
Kojo.. Is Happy.
Noo that that is taken care o’….
Let’s.. tae get doon discussin’ mair Interesting things.
Ah see.. saw.. That The Fridge..
Struck Again!
Second Game.. Second . GOAL!
N this time.. Fae a well Placed… HEIDER!
Yes…folks.. a Heider!
Noo that is awfy Heartening..
Right?
Damn Right
This Kid.. The Fridge.. Is not only Showing .. Consistency , in Scoring..
Two Games.. Two Goals..
Which.. Kojo , Likes Aloater( Remember..Kojo, Jis Hates.. INCONSISTENCY..in Scoring..See.. Sammi…Stokesy… Pukki…But, No Amido.. He is Jist Fine wi Me.)
But,this Kid Kin also…
Heider the Baw!
Wull Wonders Nevah Cease?
Ah know.. Two Goals,by the Youngster, in a Row , disnae Mak a Summer.. But..
It’s still a Hellava Loat Bettah than.. Nae Goals in a Row.. which sure makes a Winter.
Is Sammi.. still Here…
Ach..Ah Damn well Fine know that He is..
But.. Ah wiz Jist testing ye.
Sammi, should Not get a Game.. Unless,he signs a Noo Contract wi us.. Which Ah think that he wull
But,in Any Case..
‘
“No Tickee.. No Laundry”…,, Which Ah wull translate,fur the Non Cogoscenti.. Tae..
“Until, Ye Sign a Noo Contract ,Sammi..
Ye ur ..Benched!”
Maks sense tae Me.
Kojo
Still,Laughin’
I’ve not listened to the Clyde phone for a long time but I’ll make an exception tonight, as I reckon there will be squeaky bums.
the token tim
17:55 on 7 February, 2014
Talking of which, when you make your pick, you want me to cover your CQN line?
Keep the Faith!
Hail Hail!
Kojo. I agree that Sammi should be nowhere near the first team squad unless he signs a new contract.Where we differ in my opinion he will not sign a new contract and will walk at the end of this season. H.H.
quonno
15:38 on
7 February, 2014
setting free the bears supports Res. 12 & Oscar Knox
15:35 on
7 February, 2014
quonno
On reflection the question should have been have we tried to do enough to ensure qualification?
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Probably………
If the team gels to its potential we may get out of the group but 3rd and a slot/run in the wee Euro Cup would be about right.
A world class attacking midfielder, even a veteran for a season or two would make all the difference IMO.
Observations:
1. Orcs will go bust again hehe
2. Fergus McCann is a seminal figure in the (unbroken) history of CFC……he stands in the sunshine not the shadows.
3. Phil Mac must have a “deep throat” in Ipox……pity no one has deep pockets over there
4. Very good source informed me that SDM did in fact know CW before the sell out and that he had been seen around Ipox……..still think theres jail time coming for one or two eventually
5. Boatenger looks like he won’t cut it here but the rest seem to be getting it together.
Enjoy
Cash Reserves in these accounts are much lower than could have been expected.
The significant figure in these accounts is Receivable – basically transfer fees owed to us by other clubs.
At the end of June 2013 (last annual accounts) we were owed £3,934,000 but this has risen to £20,051,000 – an increase of £16,117,000. This is money owed to us presumably by Southampton, Norwich and Notts Forest (and others) and will presumably be received in instalments over a defined period so cash flow will improve
in the next few months.
However, the accounts do not show that any money has yet been spent on the developments around the ground yet so cash is still required for that purpose.
Due to the last couple of years’ profits – we now have positive cumulative retained earnings – i.e. we have eliminated all previous losses.
Good Balance Sheet for a football club – a strong position to build on.