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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236 Comments- Pages:
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Newco is in a position to demand nothing.
Newco does not exist except in the imaginations of those who will not/cannot contemplate the power of the HMRC and UEFA
I asked last night what happens in Hearts go belly up this week ? I asked it in relation to Newco ? needles to say no takers. i think it is because it is too difficult to factor them in and removes the focus from the redundant Old Firm
I just can´t see UEFA and HMRC standing idly back and allowing the SFA and the SPL to establish support and legitimise the perfect tax evasion system ?
We are wildly speculating before all the facts come out ?
What if …. everything comes out in the wash
1) Hun players had two contracts
2) SFA knew about hun players with two contracts
3) Huns are in much more debt than is being portrayed due to dodgy accounting practices between Rangers and MIH
4) That Lloyds sold to Craig Whyte to diminish their own failings with regards to their customer Rangers FC ?
5) That the head of the SFA was indeed privy to the financial situation at both Hun FC and Baby hun FC
6) That match officials were indeed asked to provide INCREASED favours to Hun FC and that the SFA hierarchy knew about it
7) That David Murray employed Craig Whyte as a patsie to remove the heat from him and his former Rangers director
9) The possibility of John Mc Lelland was involved in EBT´s considering that he is on the board and was one of the founding members of the ECA (European Club Association) . For anyone who doesn´t know they are the body that replaced the G18 and are an integral part of UEFA´s FFP policies. Which would be rendered useless. You guys really think that the whole of UEFA and the political lobby that are parked away from football due to these financial assurances are going to be ripped up for HUN FC ?
10) Craig Whyte not being a fit and proper person but was easily accepted by Sir David Murray, Lloyds Bank, The old hun Board, the SFA and the SPL ? …… and eventually rubber stamped by the Celtic plc board ?
11) The SFA were well aware of the Wee tax bill and its implications for European licenses but as they knew about two hun contracts for 10 years it is irrelevant
12) That the SFA never got any compensation for cardihun
13) That the SFA were complicit in clearing Bocanegra for European competition
14) That the SFA refused to act as an intermediary at the request of the Swedish FA for the purchase of Mervan Celik
15) That the SPL acted entirely differently with the baby huns and the huns although they were similarities
16) That the SPL in fact extended the huns many graces that no other club was offered.
17) That the shame game was a carve up and pre planned
18) That the SFA is in effect paralysed and “not fit for purpose” due to the conflicts involved in handling Hun FC´s preferential status
19) That the SFA turned a blind eye to Craig Whytes fit and proper person status .. even after being informed.
I could go on and on and that is before those that can make some money from the media tell their own story.
How I was kicked out of Rangers – by Rangers top goal scorer
How we were asked to go easy on Rangers – by any bankrupt MIB
Rangers offered as 60K for Lionel Messi – Pep Guardiola
What hun tax money could have bought for you in your local community – Joe O ´Rourke
I REALLY WISH WE WOULD STOP TALKING ABOUT HUN FANTASY AND START DEALING WITH REALITY
Hail Hail
Most of the Laptop Loyal go with the ‘Big Profit Loss’ headline and story angle.
I much prefer, ‘Celtic’s interim financial results showed they reduced its bank debt by £2million.’
One Nation…
MM
“You make it too easy for me.”
&
“Consequently all the points you raised show either individual circumstances or board money grabbing”
Now, I’m confused!
I interpreted your first response as indicating that we became a small club between 2006 and 2012 but your own lack of specificity in answering direct questions suggests that your aversion to clarity is not confined to acronymic discourse.
Your subsequent response suggests we have always, at least since the late 20s, had Boards who saw us as a trading club, which you neatly slide onto indicating that we are a small club. Are you prepared to put a year on the time we became a small club? How about a decade? OK, is it a 19th, 20th or 21st century accomplishment?
Were we a small club when we traded our first player?
Or did it start with the Patsy Gallagher deal?
What came first- The Great Depression or our Board’s alleged venality?
Was selling PG (BTW we got no money) for him the reason we went downhill or was it the keeping of Jimmy McGrory that did it?
My record book shows that we won 2 titles and 3 SCs in the 20s and 2 titles and 3 SCs in the 30s. That does not show any empirical evidence for any effect on football success.
Now maybe our lack of success in the 40s and 50s was due to the heavy selling of stars we got rid of or maybe we were still paying for the electricity we wasted in keeping the lights on for the Luftwaffe?
Are all those other clubs who trade players ( Ajax, Lyon, Porto, Benfica etc;) also just the same as DU Killie and well? What status do we have to reach in order to not be a small club?
My lunch break is over and I have a pile of work to get back to. I will catch your reply this evening.
Hope I managed to make it a little harder this time :-)
Does anybody agree with me that Hoopper ,Stokes and Samaras that they have enough goals in them to go and win the league ,me i dont think so ,and im not being critical with them,for me the Polish striker along with rasmusson could be at least giving a shot,also i said a while back thaitt james forrest needs a bit of competion,again im not being critical of him,he looks if he needs a rest
Summa of Sammi…. says:
13 February, 2012 at 13:06
We feel your pain Graham but you’re out of league now..
Mad Mitch
Spending £5m on squad investment each year is great when money is no object. We’ve got to live within our means or end up like that other mob on the Southside.
A bit of realism is required when looking at Scottish Football and Celtic’s position within European football. We can’t compete with the likes of Italy, Spain, England etc in financial terms. What we need to do is work harder to unearth gems like Wanyama, Kayal, Hooper, Ki (who cost a total of £6m-£7m), get a 3-4 good seasons from them then if bids come in that are acceptable they move for profit. Some might not work out (Murphy, Juarez etc) but that’s life.
Things have moved on since the 60s, 70s and 80s.
SFTB @ 13.27
1920’s / 1930’s not really my strongpoint.
Consequently thanks for the info on our record.
My basic point is that 5 years ago we were loking at a £5mill net spend.
Now we are looking at a zero net spend, that is player trading.
Finally we are looking to sell if we have a T/O glitch.
No Sion mentalist and we would have had to sell a player this season just to keep the boks balanced.
We are not in a good position and this is down in the main to the failings of one man.
That man is PL.
If we are to grow, PL must go – simples.
HTT @ 13.39
Look at the matchday spend.
If that level of spending does not allow the club to invest in the squad then something is wrong, we are not been run properly.
We have a bloated squad and a bloated cost base.
However the basic point is that if you do not invest you do not grow.
We were a £70mill pa club now we are a £50mill pa club.
What happens next?