Despite entry into the group stages of the Europa League, Celtic’s income to the six months to 31 December 2011 increased by only £0.88m to £29.27m on the corresponding period the previous year, reflecting a fall in income from pre-season tours and a drop in merchandise sales of £454k.
Despite playing one more home game than during the last six months of 2010, income from football and stadium operations dropped £224k.
Operating expenses increased by £867k to £28.388m, reflecting inflationary pressures and the cost of Europa League participation while net bank debt dropped in the year by £2.0m to £7.05m. The club made a profit before tax of £177k.
Considering this was a period of difficult economic times and came on the heels of a loss of the league title and poor results on the field until the last seven weeks of the year, these are solid financial results. The club continues to live within its means while chipping away at legacy debt. Failure to gain entry into the group stage of the Europa League would have put further downward pressure on income but, conversely, future participation in the Champions League would transform finances.
It is important that the club regains the SPL title which would give it an excellent chance of reaching the Champions League group stage, making it a more attractive pre-season tournament proposition while boosting merchandise sales.
Around this time of the year we normally benchmark Celtic’s financial results with those from Rangers. The Ibrox club failed to submit their accounts for the 12 months to 30 June 2011 by the required date, prompting the Plus Exchange to suspend trading in their shares, so there appears to be little chance Rangers will submit even their usual eight line interims.
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SwanseaBhoy,
The Herald has a few articles. Haven’t really seen much else tbh
Re the comments made about Mr Mc Lean’s performance on Saturday and Dan’s red card let’s not forget that this was the same ref who sent of Mc Cullough and Goian against St Mirren and was slaughtered afterwards for it.
Maybe just a little bit of “I’m going to show I’m even handed” crept into his thinking. We are all human after all.
Scratch that we are talking about a referee!
Unconfirmed reports that Lawell has told the BBC we don’t need Rangers whilst having a second helping of Jelly & Ice Cream.
“Aston Villa will make a £2.5m bid for Rangers’ Scotland international left-back Lee Wallace, 24”
Has no one told Big Feck …
I’m Neil Lennon (tamrabam) says:
13 February, 2012 at 11:13
I was just considering the calls for Coyle and Martinez from a few months back this morning. I would have thought that if either of them had been capable of being better than Lennon their respective teams would not be in the positions they are in just now.
As regards the boards performance. Whether it’s adequate or not, I would not have wanted them to rack up debt to counteract cheating. And that’s what it would have been. The team that has just beaten us to 3 in a row was not constructed as a result of financial fair play. That has to be remembered at all times.
Billy’s Bhoy says:
13 February, 2012 at 11:09
Careful with your moniker. ……..I am joking:-)
Vague Poster….I mean Vogue Punter…will take you you to task about it, as he did to me yesterday ….and then accuse you of not having a sense of humour. (Chortle, chortle….not.)
You cannae win. Wonder what Billy McNeill’s monker would be if he was on CQN?
Swansea Bhoy ……thanks for Toffeweb link.
HH
DBB
SwanseaBhoy @ 10 59
Many thanks for posting that Everton / Liverpool article .
The finest Bible thumping , hard line Protestant racist / rabidly anti Catholic person I have ever encountered was an Everton fanatic who had been born and bred in Newcastle , Co Down .
The most devout Catholic I have ever met is a Liverpool fan from St Helen’s .
A girlfriend in the late 60s came from Liverpool 8 . Her father supported Everton , her mother supported Liverpool. One brother supported Liverpool , one brother didn’t like fitba and was into Rugby League and the youngest brother [ who was” a Maoist ‘] thought that football was bread and circuses / opium of the people stuff and avoided it when he could ..
Never found football allegiances in Liverpool an easy thing to predict.
DUSHANBE BHILLY BHOY says:
13 February, 2012 at 11:31
OOTSIDE ! big bad cyber bully reporting for duty,diddums.
somebody posted this over on talkceltic, no source, but double wooft if PL said this!
“We certainly don’t need Rangers to sustain ourselves financially.”
“One must remember that during the first decade of the Sir David Murray era, our club was subject to relentless ridicule – most of it emanating from Ibrox – so there is very little sympathy on our part for what is happening over there now.”
Boom, headshot.
obonfanti1888 says:
13 February, 2012 at 11:34
When Neil stated last week that he had ‘no sympathy’ I guessed and hoped it was the official club line.
MM, if the Sion mentalist played it correctly many of their players including the scorer of 2 goals wounldnt have played. Therefore there was every chance of us getting by them.
SffS
So does that make PL THEM
THE HAWK EYED MAN.
If this turns out to be his public stance then I think it would be reasonable to conclude that it will be DD’s position too and the HAWKS hold the power over the DOVES.
C’mon the HAWKS.
BTW. I posted extracts of my letter earlier but it appears to have disappeared. Mrs MWD in control of Home PC at the moment writing up CV etc. so will re-post when I get a moment.
MWD
I believe THEM is on SSB tonight too.
MM
Do you seriously believe PL’s policy/strategy would be any different from a new CEO’s under our existing or a different Chair. Seriously buddy. You are missing the TARGET.
MWD
Lennon n Mc….Mjallby says:
13 February, 2012 at 10:05
So nearly half a million less brought in by the merchandise,I wonder if that would’ve been higher if we hadn’t have shared sponsor with the huns? Not a criticism just a thought and I daresay releasing a limited amount of sponsorless strips didn’t help either.
—————————————————–
tell you what bud, the TENNANTS advert behind the goals really got on my nerves on saturday.
when the huns die, does anyoone know what happens to existing joint sponsorships, will we be able to ge tout of the Tennants one.
7F4S @ 11.39
I think you forget how badly we started the season.
We only started to play with any conviction after Rennes away.
Our pre-season was a gold plated example of what not to do.
Consequently I would have been very surprised if we had managed to beat anyone in the EuL qualifiers.
voguepunter says:
13 February, 2012 at 11:34
DUSHANBE BHILLY BHOY says:
13 February, 2012 at 11:31
OOTSIDE ! big bad cyber bully reporting for duty,diddums.
======
Surely you mean “OUTWITH”?
PL’s statement is very welcome. I hope it’s not designed to just shut us up whilst they’re working with newhuns in the background. Hopefully this is just the first shot across the bows.
obonfanti1888 says:
13 February, 2012 at 11:34
Paddy Gallagher
Hope the club re-iterates this point every week ,or maybe
every day,just in case huns go bust sooner ,rather than later.
Interesting to see if any other SPL chief execs/chairmen follow PL’s lead; I suspect not. Least not right away. That way the MSM can line up and give PL a kicking; though its good to see the club hitting back, after all we are the ones (other than the taxpayer) who have been cheated the most out of Rangers’ schemes.
Afternoon bhoys, still freezing and the sun is out on the hun free mountain.
If PL is coming out with we don’t need the hun…..
It looks like Dermo is indeed one of the Hawks, made my day that has :>)
voguepunter says:
13 February, 2012 at 11:49
Love it if Peter states this as the official Celtic statement, in front of the cameras with a room full of ‘flushed’ reporters.
Say what you mean, and mean what you say!
Leave them in no doubt.
From KDS –
Mike McGrath, London based sports journo, has just tweeted ” Expect news from
HMRC re Glasgow Rangers very soon”!! Hmmmm
THE EXILED TIM says:
13 February, 2012 at 11:57
Get back out in the cold and get that VW bled you! :-)
Rogue Leader – just followed you on Twitter. Feel free to repay the compliment ;)
MadMitch, or MM, as you would undoubtedly prefer:-
“We are now DU / M’well / Killie in disguise.”
In 1926 we retired PG because he was on high wages. He played for F. for a further 6 years.
In 1928, we tried to sell J McG to A.
In 1973 we sold LM to M U
In 1974 we sold DH to C
In 1977, we sold KD to L
In 1983 we sold CN to A
In 1987 we sold B McC to M U
In 1997 we sold PvH to N F & PdC to S W & JC to CV
In 2010 we sold A McG to SM
At what point along the way did we become DU / M’well / Killie in disguise?
PaddyG
It’s done, my hands are still thawing out, had to go down to brit neighbours earlier, holiday cave, they have their boiler outside, fools, it burst water and ice everywhere.
Good deed done for the day :>)
setting free the bears says:
13 February, 2012 at 12:06
Di Canio was traded ;-)
LB
Some say that his strip on Sunday will be sporting Gulliver
and that Billy Connolly is to pass over the nickname
All we know is He’s Victor Wanyama
Why is our game on Sunday this week?
SwanseaBhoy says:
13 February, 2012 at 10:59
Article on the historic football allegiances of the Catholic and Protestant communities in Liverpool.
Everton – Liverpool
SwanseaBhoy
——————–
hugely interesting, thanks for posting.
MWD @ 11.45
Building a business / brand / football team is beyond PL.
He is only interested in his bonus and keeping the Irish Raj off his back.
He may have strengths working in the shadows but he is not up to growth.
Consequently a change is needed and a change would bring results.
WGS / luck gave us a platform to work from.
PL and his lack of talent failed in that regard.
We are now down to the bare bones.
£50mill T/O and player trading.
The Sion Mentalist saved us.
that mcgrath tweet; how soon is soon!? today? tomorrow? next week? when god dammit when!!!?
lets just say I hope its catastrophic news for the huns :)
Jelly and Ice cream being prepared
tomtheleedstim says:
13 February, 2012 at 11:58
From KDS –
Mike McGrath, London based sports journo, has just tweeted ” Expect news from
HMRC re Glasgow Rangers very soon”!! Hmmmm
—————————–
txt ciculating last night, that its wednesday for a verdict.
saint stivs
wednesday eh? wouldn’t that be a treat; a st valentines day massacre! :)
Wallop!
http://www.fsa.gov.uk/static/pubs/final/pritchard_stockbrokers_limited.pdf
bournesouprecipe says:
13 February, 2012 at 08:04
Fabulous photo
…with a four leaf clover on my breast….
hh
bjmac
How Soon Is Now?
HH
TLK
I was at a family do at the weekend where step-family of the wife’s brother-in-law were in attendance. You’ll see why I’m being so long winded and distant with the connection in a minute; his step-dad is a hun!
This guy is clearly an inteligent man with the exception of the choice of football club he supports. I wouldn’t say he’s a bitter hun, I’ve even taken him to Parkhead once and he really did enjoy the occasion, but ultimately a hun’s a hun.
Anyway, to cut a long story short, I haven’t seen him for over a year and was absolutely astounded with his level of naivety around the finances at Ipox. From the stuff he was quoting it was clear it was all news to him a couple of weeks ago when the DR started reporting about Ticketus. They really have thought that the Tax Case was all made up and a Timmy conspiracy, and they haven’t questioned anything about the MBB.
I had to laugh though, as he tried to talk to me about the death of Scottish Football if they are liquidated / newco not allowed straight back in to the SPL. “I mean, the loss of the TV deal would be a massive financial blow”. See the comments in the Herald under the hun Michael Grant’s PR release for the huns today. That is the reality. I left him in no doubt that I disagreed and while times have changed, a return to the pre-Souness days would more likely than not be the reality of Scottish football. We might not compete on the European stage a la Aberdeen and Dundee Utd, but we could improve the Scottish National team with more young Scottish players.
The figures today are good under the general economic climate we are all living in. The PLC is in reality a small business while the club is globally significant. I personally work for a business with twice the turnover of Celtic and I think mine is a small company. Neil Lennon must be commended for the signings that have been made under his tenure; some signings won’t work out, some will be short-term and others may be long term but we potentially have a fairly valuable squad at a very young average age on the books. For that I thank him and the backroom staff. The Chief Exec may have a hand in this and for that he also deserves some praise, however I have been saying for years that the club needs to open up more revenue streams to tap into the Global reach of our existing support, and not just try to open up new markets by signing players from Japan, South Korea etc.
Back the Board / Sack the Board – it feels like we’re always living on the edge of this debate.
Whatever, at a time when the huns really are a deep breath just before a train crash, and their fans still haven’t set up ‘Huns for change’ I think we should all be operating under one banner and ensuring it appears at every ground between now and D-Day. To get UEFA back on-side after Italy, perhaps we could have ‘We Support UEFA’s Financial Fair Play – No to Newco in the SPL’ and a reminder to the Board that whatever part of the club’s income is dependent on the huns we are willing to forego.
My longest post – apologies if it was boring. Rant over.
HH