Celtic released their financial results for the year to 30 June 2014 this afternoon. The club remained profitable to the tune of £11.17m (2013: £9.74m) despite a 14$ drop in revenue to £64.74m. The net cash position at the end of the year was hardly changed from the previous year at £3.83m.
Football and stadium revenue was down £4.4m, which correlates almost exactly to the £100 reduction in season ticket process for around 40,000 seats, but the biggest hit was to Multimedia and Commercial Activities, which were down £5.21m. The bulk of this fall will be explained by finishing fourth in the Champions League group stage, instead of processing to the knock out stage, as we did in season 2012-13.
Celtic opened a new borrowing facility with the Co-op Bank two weeks ago to replace their existing facilities. The club have a £6m overdraft (at base plus 1%) and £14.4m of long-term loans.
This high watermark will not be reached this season as revenue will struggle to reach £55m but it’s clear the club can support the current cost structure without needing to pair back. The project for now is to get revenue back over £70 next season, and for that we’ll need to be better prepared come Champions League qualification time.
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If you have the Sky Sports App have a look at the “News” they list all sorts of headlines
But today they have one above another but it reads
Rangers miss Financial target
Celtic post £11m pre tax profit
Very sweet
67ECW
Haha, knew the Daily Ranger would find a way to turn good news into bad. “Celtic announce pre-tax profit of £11.17m and tell fans: We cannot spend money we don’t have.”
Roughly 23% of Scotland are public sector workers not ‘1 in 3’ that you stated.
Slightly over the UK average of roughly 19%. Not much of a problem, as I see it:
http://www.ons.gov.uk/ons/rel/pse/public-sector-employment/q2-2013/sty-public-section-employment.html
Thindimebhoy you are missing the point. If you do these things in isolation you will have no banks. Cause and effect.
Geordie Munro
18:10 on
12 September, 2014
Davidopoulos,
Yer sharp as a tack as always pal.
Thank goodness for you and a few others for keeping the humour flowing. :)
———————————————————–
Inside every CQNer is a really average comedian waiting to break out like embarrassing acne.
Another good Tim
https://m.youtube.com/watch?v=b6O20YmDmdM
Neganon2,
http://www.maxkeiser.com/2014/02/kr561-keiser-report-farce-of-scottish-independence/
Geordie Munro
18:05 on
12 September, 2014
“And just what exactly have BP done to deserve the ire of the Scots nats – apart from stating what every other major oil company is in agreement with that N Sea oil is running out. ”
Frank Ryans whiskey,
Everyone knows that north Sea oil is running out. Even sillars. Nobody has denied it.
It’s the time scale that is up for debate.
That said I think you are being a little obtuse if you think that is what js was referring to.
==
No I posed the question, what have BP done to incur the ire of the Scots nats?
Thank you DARWIN
I was going to give up on this
Wonderful site. Then it dawned on me give up! And let something like you win no, no chance
HH to real tims.
What happened to the Samaras money?
Theboywithmcgrainetc
What currency are pensions paid in to pensioners domiciled overseas?
Presumably if into a local bank account it is in local currency require a rate of exchange.
So if we cannot keep the £, pensions will be paid by whom in what form?
Will it be converted to say bawbees in a one off transfer of contribution value and paid into a Scottish bank account to be distributed in bawbees or will the DWP be the payment source and pay pensions in the exchange rate for that month into each bank account?
When folk are told pensions will not be affected the assumption has to be the currency will be £.
That looks like depending on a High Noon battle where England blinks.
My point is that there is an unknown on what a pensioner will receive, which, if the £ value is converted as it currently must be to pay abroad, means the amount received could change from month to month.
Folk might be ok with that but better they know the risk than get paid less than the general assurance seems to be promising.
i wonder just how many cqners who originally planned to vote no will now vote yes (and vice versa) based on the blog debate
we should have an exit poll about how many opinions were changed and how many opinions were hardened
https://www.youtube.com/watch?v=JlbmIMbKZa4
Now meet your maker !
Tamrabam. My guess is that few if any will have changed there minds I certainly havnt.H.H.
Frank Ryan’s Whiskey
I read your post this morning about not voting in this referendum because it was not something you thought you should cast a vote in.
I admire that integrity and take my hat off to you.
This clip might help explain why people are angry with BP but more so with the media.
https://www.youtube.com/watch?v=YkZmxWX-JtE&feature=youtu.be
starry plough – You’re my wife now Philvis…
:)
Dave? (thumbsup)
thindimebhoy – Well said Jim Sillars<
I hope you’re being ironical.
“This referendum is about power, and when we get a Yes majority, we will use that power for a day of reckoning with BP and the banks.”
“A day of reckoning”, eh? And it’s “about power”. Hmmm. I suspect this sounded better in the original German.
“BP, in an independent Scotland, will need to learn the meaning of nationalisation, in part or in whole, as it has in other countries who have not been as soft as we have forced to be. We will be the masters of the oil fields, not BP or any other of the majors.”
So now they’re threatening to nationalise BP… Oh dear.
Some of us have known about the SNP’s bully boy, dictatorial instincts for years, but they’ve rarely been on display so nakedly.
It’s looking more and more like “independent” Scotland would resemble Venezuela: another oil-rich country which unwisely elected authoritarian strongmen with a penchant for nationalising the oil and “social justice”.
Venezuela is now so pathetic they can’t even guarantee supplies of toilet paper. Its people might be dirt poor and have to use pinecones to wipe their backsides, but it must be a comfort to them knowing that “the rich” are being punished.
Who’s going to invest in an independent Scotland now? Every major business with assets in Scotland will be working on an escape plan. (thumbsup)
Just heard a cracking name for No Voters in the pub: Nacho -:(
WorkitootyerselCSC
Chick saying Rangers should be run as a business. Anyone remember him saying this when Murray racked up £80m debt?
Canamalar thanks for the link. I started watching and will complete later but really? Didn’t seem a sensible argument to me?
The Glorious Balance Sheet
Sure.. Ah hivtae raise the Question..
Wull the Scottish Tax Base be sufficient tae Keep the Scottish Pot Abilin?
My PERSONAL Sentiments regarding the Peying of Taxes..is Irrelevant..
Ah am aware that ,in this.. Ah Must Be Realistic,pal..
A Country Needs tae Tax it’s Subjects..
Ah Don’t Disagree..wi that Premise..
Whit Ah Complain aboot..is the Amount of Taxes that
KOJO Peys..’
Ah hiv Nae Interest in whit You Pey in Taxes..
Anyway..
Ah doot that the Scottish Tax Base .. which wull be a Big Part of Scotland’s Ability tae
keep the wolf Frum the Door…
Is Insufficient..tae.. be much of a Help .. tae Keep
Scotland’s Boady n Soul.. The Gether..
Like Ah said..
Independence is Fraught wi’..
Uncertainty..
An.. the Market Jist Hates.. Uncertainty..
Ah see the Scottish Pathway.. if it Takes the wan ,which .. Is Marked. Independence..
Compared Tae A Trip through.. Mirkwood… with awe it’s.. Lurkin’ Dangers.
Abounding.
Kojo
Still,Laughin
Noo Ye know..
Kojo
Still,Laughin’
GlassTwoThirdsFull
18:23 on
12 September, 2014
Chick saying Rangers should be run as a business. Anyone remember him saying this when Murray racked up £80m debt?
———————————————————
To be fair, he might have said this. A lot of what he was saying at the time was muffled by someone’s butt cheeks…
Joe Filippis Haircut
17:46 on
12 September, 2014
So another false end to the Rangers saga the number of times it has been reported on CQN that they were near the end that have proved to be false are numerous.Tonight they are away to Raith Rovers and 3 points in this game could see them go top at least until Hearts next game.While we scoff at there plight they are getting nearer to the SPL. H.H.
____________________________________________________________________
In a nutshell, the hun is still very much ALIVE, and will come calling
soon, to many on here are far too busy eating jelly and ice cream.
The Rev Ian Paisley
Good riddance ya evil rat-basturt.
No hypocrites in the Jungle
that I was brought up in – CSC
kev
dont sit on the fence
If the above post annoys any tight-rippers
TOUGH……
bye.
Ger57 you haven’t responded to my post. I’m not trying to score points but it’s incredibly important that we understand cause and effect.
canamalar
Yer man won’t watch that vid.
Max tells it like it really is.
HH
Seen a lot about Breaking bad on here a while ago. Just starting series 3 finding it very slow is it worth sticking with.
B&Q screwdrivers up 9p
ASDA potatoes up 3p/kilo and ready ketchup filled hamburgers up18p.
Just text my mate there -just 1 SMS was £9.
All definitely true, because it says so in the paper and all media.
By law they need to be impartial.
Cameron says we defeated Hitler together.
The Germans claim they waged war against 4/5th of the world.
Someone is lying.
Kevj……God bless, tell it straight mate and let the
good lord judge…….oh ya daftie get yerself up tae
watch the Celtic the morra………you know you want to.
lennon’s passion
18:32 on
12 September, 2014
Seen a lot about Breaking bad on here a while ago. Just starting series 3 finding it very slow is it worth sticking with.
——————————————
Keep with it mate, eventually the Norwegian guy comes good…
lennon’s passion
18:32 on 12 September, 2014
If the vote is YES then I have it on good authority that future series of Breaking Bad will not be available in scotchland. Apparently our DVDs will stop working on the 19th September.
Been watching True Detective series recently. Thoroughly enjoying it.
NegAnon2
18:15 on
12 September, 2014
Scottish people will still have money after independence.. tick
Scottish people can bank their money anywhere they want…tick
Scotland can make its own financial regulations…..tick
Scotland can create its own banks or invite other clean ones to set up shop…..tick
EDB
Top Quality TV.
HH
Snake Plissken
18:22 on
12 September, 2014
Frank Ryan’s Whiskey
I read your post this morning about not voting in this referendum because it was not something you thought you should cast a vote in.
I admire that integrity and take my hat off to you.
This clip might help explain why people are angry with BP but more so with the media.
==
Not really, BP ‘British petroleum’ allowing a British cabinet to meet in their Aberdeen offices -shock – people are upset because of that why? We recently had a visit from the Dutch pm at our offices in the Netherlands. Dutch PM in offices of a Dutch oil company – little difference. BP along with other multinationals have been downsizing N-Sea ops for quite a while nothing new in this. Now the good old British media what did anyone expect from the ‘British Broadcasting company’ unbiased reporting? The only surprise here is that anyone is surprised that they are biased. Think the Scots have it bad compare it to the propaganda onslaught those of us from the 6 counties were faced with from the very same organisation during the Irish conflict.
Come On Davidopoulos!
SPOILER ALERT! Play fair?!
For any budding psephologists out there, John Curtice’s latest post http://blog.whatscotlandthinks.org/2014/09/icm-agree-race-now-close/