Celtic released their interim financial statement for the six months to 31 December 2023 this afternoon. They will doubtlessly stun and frustrate you in equal measure. Revenue for the first half of a season reached a new high of £85.2m (2022: £76.5m).
Pretax profit for the period was £30.302m, down slightly on the 2022 figure of £33.830m and remember, Celtic are one of the clubs who pay their taxes, so worth recording the after-tax figure is £22.68m.
Our amortisation figure for the six month period was almost dead level with the previous year at just north of £6m. You’ll know what amortisation is, so CQN would never bore you explaining that one. The sale of Jota was included in last year’s accounts, so the player sales figure from 1 July was £2.591m. Cash in the bank at the end of the calendar year was an astonishing £67.327m, up £7m on a year earlier.
All that money and two points behind in the table is the elephant in the document. Chairman Peter Lawwell noted his disappointment at the lack of significant transfer business done during the January window:
“The Board’s commitment is to strengthen and improve the playing squad in every transfer window and although resources were available, we were unable to further add to the squad due to the unavailability of identified targets.
“This was disappointing to us all, and never the intention. The January transfer window is notoriously difficult as clubs are very reluctant to let their best players go at such a crucial time of the season just as we are. Indeed, we resisted strong interest in our players from other clubs.”
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Good to know that this season’s success will see increased remuneration for the CEO and CFO.
I am certain that is true. Kind of makes obtuse from ETims point that the football operation is subordinated to the plc operation rather than the other way about.
In more encouraging news Rodger Mitchell tweeted he’s heard from 2 separate sources that Desmond is going to clear the place out.
I wonder if he’s amongst the complainers being challenged to identify who could do better than the incumbents?
BACK TO BASICS – GLASS HALF FULL on 23RD FEBRUARY 2024 5:57 PMLong day at work.
Popped in for a peek.
Saw ONIL isn’t happy.
I don’t appear to be alone on that one my friend….
If we want to become champions again. we need to submit a £100m bid to sign Taylor Swift
Condolences to B78, take care.
Going through similar, my father in law passed away a couple of weeks ago and we laid him to rest on Monday. One of the comforts we took was that we were all with him when he passed and his son could give him the last rites, a tough thing for a priest to do at any time never mind when a loved one is involved. He also ‘celebrated’ the requiem mass for his dad which was another hard task but with the strength of God he got through.
Prayers and thoughts with all who have suffered loss recently.
love the optimism MNCELT-
I’m not sure there’s much capacity for on field improvement.
Hopefully the players’ meeting and the news about JH might galvanise them not to mention a draw tomorrow at poxville
On the bright side none of the bored geniuses on CQN run Celtic FC and for that I am glad. The wheel turns and we will have many more good seasons than bad ones, because the club is well run. Mistakes will happen, clearly bringing the prodigal son back was a mistake, he has shown little. If the team wins the next two bun games he may survive but I can see it ending in tears no matter what.
Can we do better, always. Will be have rough cycles, always. Will we want a new board and new left back and new striker, always. We will always have opinions, right or wrong. Read back read on scroll by. Me I am looking forward to the hoops getting it right and hammering Motherwell on Sunday. Not much hope the minis will do anything except hand some goal difference to the buns so we need to beat them in April, a stop leaking points. Hoping the Wellington Phoenix win tonight too, they have been top of the A-League for months now, which is crazy.
PETERLATCHFORDSBELLY on 23RD FEBRUARY 2024 5:58 PM
Good to know that this season’s success will see increased remuneration for the CEO and CFO.
I am certain that is true. Kind of makes obtuse from ETims point that the football operation is subordinated to the plc operation rather than the other way about.
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you do type some amount of nonsense on here,
the football operation (who many decry as not performing at best) should be in charge of the group opearions and mangae the plc ?
SFTB brilliant. Has she got a good left peg.
Can’t wait to see the “Best Bank Balance” Trophy paraded at Celtic Park in May.
Meanwhile, our near neighbours, who remain in Europe after Christmas, had a pretty good January window and are on course for a domestic Treble . …..we’ll they’ll be pretty jealous of us. Eh?
Cheers Fat Pete 👍
Chairman Peter Lawwell noted his disappointment at the lack of significant transfer business done during the January window…
😂😂Pathetic. No need to be disappointed in the ‘difficult’ January window if you do your job right in the summer window. Nine or ten potential frogs to be kissed (one of Peter’s favourites phrases) when 5 real signings were required. How many first team starters are there from the last four windows? 1, Johnston.
Please, please, Mr and Mr Lawwell and Mr Invisible CEO, stand aside and get some vibrancy into our board.
Celtic plc
Directors
Peter T Lawwell (Chairman)
Michael Nicholson (Chief Executive Officer)
Christopher McKay (Chief Financial Officer)
Thomas E Allison
Dermot F Desmond
Brian D H Wilson
Sharon Brown
Brian Rose
Company Secretary
Christopher Duffy
Registered Office
Celtic Park
Glasgow
G40 3RE
Registered Number
SC003487
Every one a belter…..
£67 million in the bank I read on here that it’ll be £90 million can someone explain to me about these figures,is it good or what.
Never trust folk who have a surname for a first name…..
Taylor Swift
Murdoch MacLennan
Crawford Allan
taurangabhoy
Don’t know about her left peg but she is immune to terracing criticism- she’ll just Shake it Off
Does unavailability mean we are searching the wrong markets? Are we identifying players who were never realistic options? Does our scouting network need a review?
Or, are we talking about money here? Budgets. Can we not agree a fee with the selling club, or the player? If so, that’s not unavailability.
Most importantly, what do we need to do differently to ensure we don’t see unavailability become an annual excuse?
We can’t get a brand new missile to work.
The Germans built a bomb that’s been buried in the water and muck in Plymouth for 80 years … that still functions.
B2B
Even worse that’s the second missile failure 🫣
one of the upcoming consequences of multiple pish transfer windows is that realistically to do anything in the champions league next season should we get there then we need 5 or 6 first team players.
even if we did decide to make the cash available it would be unlikely that number of quality players would be for sale and would come to glasgow.
but equally as bad is that it is notoriously difficult to integrate that many new players into the starting XI in a very short period of time as we would need to do.
so we could be getting shafted in the CL before we’ve even got up and running.
worth your 200 quid that you will be getting asked for?
thats PLC short-termism for you
If we want to become champions again. we need to submit a £100m bid to sign Taylor Swift
—
will she be a left back replacement for Taylor Slow? 🤷🏻♂️😁
St Stivs,
I was trying to think of a collective name for the board, linked with their age and linked to a proficient Celtic striker
I would have called them Gerry hat tricks. But unfortunately I can only think of Gerry Creaney and Gerry Britton, who were basically fringe strikers.
I would have thought we would have had a lot more Gerry’s that played for us. I may be missing quite a few.
Cheers and HH.
ONENIGHTINLISBON on 23RD FEBRUARY 2024 6:00 PM
don’t appear to be alone on that one (not being happy) my friend….
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Cheers ONIL.
Yip. Fair dos.
It was an instinctive response on my part to disaffection.
Genuinely, please consider my earlier comment retracted.
20% of me is scunnered too.
My solution (a trait, not a boast) to such situations is typically to
– get real about about where we are
– reset
– visualise a path to success
– be honest with myself about the chances of that success.
And go again with my glass half full.
Others take a different approach.
Free country.
Whatever works for the individual.
There are either Board members posting on this site, or, Board members relatives/friends
The garbage posted on here by Board defenders is boak inducing. They are making the thieving easy.
Why was it so easy to sign who we needed when Ange was here, but all of a sudden difficult now he’s gone. Pay the asking price/value and there’d be no problem.
An EFL 3rd choice striker on loan tells you all you need to know
Any news on Melbourne Mick and Ernie Lynch?
I’ve not been on as often and haven’t seen them posting.
I hope all is well with them.
Not seen much from BigWavy either but think I did see one post from him recently.
Ernie’s account got banned by mistake, he never bothered after that.
We’re disappointed we couldn’t do more business in the window.
Now that is a ‘Deary Me ‘
31003 on 23RD FEBRUARY 2024 6:52 PM
There are either Board members posting on this site, or, Board members relatives/friends
———-
I was outed earlier, I am not Mark Lawwell, but I am Peters nephen on his wife side.
I got sent to Saint Als and because of that I can read a set of accounts, business strategies and cundersatand corporate structure, I get paid from the slush fund missing £35m that should have been in the bank (why is it not £100m they asked).
I get paid for each word posted.
Pass it on.
St Stivs
I never named anyone as a board apologist so I can only assume you consider yourself as such
i got accused of being one. nay i got accused of being mark lawwell.
i dislike immensely the personalities on the board.
that does not mean however i cannot critiue the PLC performance,
if you take the name celtic off the accounts, and remove the emotional feelings, the business is exceptionally well performing, there can be no amount of stupid comments made that can change that.
for goodness sake people dont know the chairmans role when releasing the accounts statements.
what chance is there.
If we can’t do business in January, and let’s be honest it isn’t the first time that excuse has been used; then it becomes more important that business is done promptly and effectively in the summer window.
Yet that doesn’t happen either.
This is just a sorry excuse for a litany of failure.
I can confidently predict the summer window now:
No players will be purchased prior to the qualifiers or if they are they will be yet more projects.
O’Riley will be sold part way through the qualifiers.
When we eventually fail Hatate will be sold.
And at the end of the window we’ll be told we couldn’t buy players because they only wanted to go to teams in the Champions League.
It becomes all so familiar after a while.
Rinse and repeat.
Rinse and repeat.
Thanks The Huddle 👍
Celtic lost the plot iwhen Brenda said he needed 3 or 4 quality signings. ffs. Ask yourselves, how is that going to motivate any player.
Sorry, the manager is a tool
KiNGLuBO
pS Little known facts.
The circumference of the average human head is one third of their height.
It is impossible to fold a sheet of paper in half, 10 times
Off for a sleep
SFTB,
I would agree, I don’t think we are too far off the same page, re conspiracy.
But I believe the dots are joining up re the experimental jags allied with 2 years of compliant control.
Our esteemed dentist’s revelations did not surprise me in the slightest. Quote ” I am winging it, and will get found out sooner rather than later”
Establishment parties taking place on regular basis, because they knew and evaluated risk to the attending demographic.
Absolute nonsense that when we eventually got back into pubs we had to watch football with no sound.
A control measure with no science.
For years on here I urged CQN,ers to question everything, be wary , be very wary and not to treat everything the establishment said as Gospel.
I feel that as the dots align, that advice was and still is very prudent.
Truth will out. That may well be true as social media, interaction communication and public skepticism is far more relevant today.
Lots of historic ” conspiracy theories ” would not fly today.
Cheers and HH.
An Teraman
I know r12 didnt end in 2013 but imo,from my experience,time took care its potency.strike while the iron is hot.
=====================
Definitely my last word.
The options were 1.
1. Have Res12 voted down by Celtic with no opportunity to argue with any authority Celtic were wrong leaving it to social media were it quickly would have become yesterdays news.
or
Agree to an adjournment to make the iron hotter.
In the event Res12 became too hot for many to handle.
That and resistance to it from the supporters who would have benefitted from its success of SFA reform coming from green tops was not foreseen.
What would you have done knowing what was known at the time?
Had I know then what I know now, I would have saved Celtic from having to embark on a cover up, aka long grass which is quite acceptable?
Lets leave it there as there are two opinions at play one evidenced, the other not.
or we will get an experienced keeper (hart, gordon and fraser being previous examples)
and another decent striker (dembele, odsonne, stokes and the griff even).
and another international defender (ccv and starfelt, and boyata and virgil alike)
and a loan to buy (like jota).
they aint all rubbish.
I think the manager said, “we could have been a bit braver” in the transfer window (or words to that effect).
You have to wonder if the Chairman’s comments of “not available” should be “not available at the price we were willing to pay”.
I have no idea, but if we do not win this league Celtic will have been penny wise and pound foolish. The potential opportunity cost and the cost of a new squad and manager will be huge.
However, £67m in the bank and automatic CL qualification 😮🔥😮🔥
I know it, you know it, the huns know it.
It’s a cause any Celtic supporter should be behind 100%.
This blogs strength has always been its diversity.
Posters like Ernie Lynch and Canamalar to name but two are sorely missed.
HH to all.
Stivs
Plc…. Great performing busineszzzzz-…
This isn’t a difficult point to grasp, even for one as myopic as you.
Most of us don’t give a toss about ‘the business’. Why would we unless it results in a better football team?
Still, feel free to give us all another tedious tutorial on plc governance. That’s why we’re on this – checks notes – football blog.