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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Sevco business section news
This new share issue tides them over but in reality its another ball and chain on any chance of them finding a Fergus or a blue bunnet to bail them out properly.
Even King must be wincing at the costs of patching the holes in this ship
NegAnon2
18:08 on
12 September, 2014
Thebhoywithmcgrwininhisside
Current pensions are paid out of current taxation. There is no big pot of money that the government has paid for you. Those working today pay for the pensioners of today.
I believe kojo argument is that if Scotland get into financial difficulties one consequence could be an inability to pay those pensions.
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Correct. State Pension is paid directly out of current tax take. So the number of tax-payers and value of tax that they pay is clearly important. If we want to keep paying the same pension that is.
TET
My older daughter passed it to me just a few days ago. Strong stuff for sure and where it is filmed seems right for the story. Not sure how the 2nd series will shape up in California.
And b.t.w. I’m kinda in love with Maggie:o)
Mon The Hoops!
18:42 on
12 September, 2014
Davidopoulos
18:35 on 12 September, 2014
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.
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Keep with it mate, eventually the Norwegian guy comes good…
Come On Davidopoulos!
SPOILER ALERT! Play fair?!
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PMSL. Sorry, do apologise. I meant Hank…definitely Hank…
Awe this Argy Bargy oan the Merits n De-Merits
This Scottish Independence Upcoming Result..
His Bin.. Great Fun.. fur Me.
Which Is always..well.. Nice.
Next.. Thursday?… when the Chickens Come n fae the Could..
Scotland’s Fate.. wull be Sealed.
Ah am Looking forward tae Finding Oot.. Whit is Shall Be..
N.. whit the Final Denouement of this Result wul turn ootal Be..in the Coming Years.
Howevah…… as far Ah Ah wull Be Affected..
Well..
Scotland’s Final Fate.. wull remain in the Academic Category.. fur Ma Life wull be
totally .. Unaffected..
whereas.. fur You Chaps…??
Good Luck.. n Awe the Best.. tae You, fur you wull be tied tae that Decision…
Fur.. the Future…
So.. ye should think…Long n Deep afore ye Mark that Billet.
Kojo
Still,Laughin’
Davidopoulos 18:25
The image that brought up :-)
I had occasion to visit an office near Parkhead Cross today. There was a pick-up van type thing parked outside the Orange lodge on Westmuir St. The van had obviously been used as a vehicle for the “No” campaign, as there was all sorts of “no” slogan stickers and banners all over it, alongside the saltire and the union jack.
Anyway, by far the most prominent banner, placed along the length of the vehicle, was one proclaiming “No to civil war”. My immediate reaction was wtf…….is this really what these people are threatening if the vote doesn’t go their way?
Now, there are countless Celtic-minded, good people who will be voting no in the referendum for their own reasons.
Personally, I would have to ask myself the question, why are the people who are the absolute antithesis of everything I stand for and believe in, voting no?
I accept that there are countless reasons why people will be voting no. However, in the end, it’s the same result. The support of a continuation of an institution that is inherently anti-Catholic.
Just the way the OO like it.
HailHail
Thindimebhoy
I agree with you 100% on the bank thing.
Their fear is palpable, there would be Qs of reputable trustworthy replacements ready to take the place of the banksters.
HH
davidopoulos
18:35 on 12 September, 2014
Cheers for spoiling it asked my bhoy who has watched it said “what a knob” .
Will wait on you giving me a lecture on bad language.
EDB
Aye, the setting sure does mimic the content, looking forward to the next series, it will have to go some to better it tho, got a feeling it will >}
HH
GlassTwoThirdsFull
18:45 on
12 September, 2014
Davidopoulos 18:25
The image that brought up :-)
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(‿|‿) BUTT
( ͡° ͜ʖ ͡°) CHICK
Thindimebhoy 18:43
You obviously missed the discussion on shortbread. King is going to invest, Kennedy is going to invest, Souness. It’s all sunshine and light apparently.
Frank Ryan’s Whiskey
I agree but I think the key point was if BP want to ‘move’ to London what are they going to do there? Drill in the Thames?
Why have they invested so many billions in their operations and where would they go and work if they really were ‘leaving’?
I think if you are an oil company you need to go where the oil is to get it.
If they don’t want it I am sure there would be other takers.
I don’t think anyone IS surprised by the behaviour of the BBC or the media but the anger comes because we pay into it and it has a charter just as us Celtic fans get angry with them with their anti-Celtic/pro-Sevco bias.
The one thing I would say about the campaign is this – no one ever thought the House of Murray could crumble, or that the internet bampots could win.
We did.
We can argue about the degree to which we won but we still won.
Gotta Go..joe
Seeya.
Kojo
Still..Laughin’
Thanks Kojo
Its good to know you are thinking about us in Las Vegas where the money never runs oot …..:)
As one of the very few who believes that Independence will make no noticeable difference in the daily lives of `ordinary people` , I was nevertheless pleased to hear Tim Martin (Wetherspoons` Chairman) say that those predicting catastrophe in the light of a Yes vote were talking nonsense. Admittedly, this is based on a liking for the product Mr Martin dispenses in his pub but it added to my view that, generally, I have found Yes voters a little bit less Establishment than the No guys. Indeed, I have to admit to being a little surprised that ernie lynch and SFTB are on the side of the No`s. I thought they were too intelligent to be bothered either way. Honest.
JJ
PS No comments about the bump to my head affecting my judgement 0:-)
lennon’s passion
18:51 on
12 September, 2014
davidopoulos
18:35 on 12 September, 2014
Cheers for spoiling it asked my bhoy who has watched it said “what a knob” .
Will wait on you giving me a lecture on bad language.
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Cool, I’ve seen 4 episodes of the first season. Let me know how the rest goes…
have to agree with pf912912
if the orange order are voting no
its hard to see how any celtic fan with best intentions can vote no
voting the same as those sash wearing bowler hatted sectarian bigots who still live in the 17th century
May the gods ordain that it pisses with rain all day tomorrow in Edinburgh to wash away the stench.
1951 50,000 OO march through Edinburgh
2014 – hopefully less than 10k?
Thindimebhoy. An object lesson in sticking your fingers in your ears and shouting I’m not listening.
TET who would replace the bankers. Did you read my post earlier around the consequences of unilateral regulation?
Great photo of fat sally on BBC website:
http://www.bbc.co.uk/sport/0/football/29170868
Looks as if he has been on a diet.
JJ
I saw that piece with Tim Martin earlier, straight to the point, no bother either way, no fuss, just like it will be in the event of a Yes.
HH
West of Ireland CSC please explain how that is logical. So in the. Is important vote we will ever have I shouldn’t vote no because the OO are voting no?
How is that logical?
NA2
You obviously haven’t seen much of Max Kaiser then have you ?
HH
EDB-i got stick on here saying Matthew McConnaghy was brilliant in it…..
That’s me just got a hair cut, you can give me feedback at CQN corner tomorrow. Think you’ll like it Dena btw.
As an aside the barber says his customers about 3-2 in favour of Indy, given his shop is in Helensburgh I would say that’s some statistic.
It’s an Aye from me.
Pf912912.
You came to this startling conclusion.
The support of a continuation of an institution that is inherently anti-Catholic.
If we vote no? We are supporting the OO?
Did salmond say he was going to ban the OO? Did I miss it?
Honestly???? Is this the best the yes campaign can muster.
Jeesus wept.
Davidopoulos
18:25 on
12 September, 2014
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?
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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…
In fairness to Chick he was the first member of the Scottish media to publicly mention the word administration in connection with THEM.
As an ‘outsider’ looking in…..I am very surprised that a large percentage of the Scottish electorate-voters have personalised, and involved party politics,in what is essentially a single issue vote.
Does anyone think that the likes of Alex Salmond or Jim Murphy or whatever self serving politician we can think of, actually give a flying feck about the benefits of independence or maintaining the status quo, would have on the average John Doe on the street?
It’s all about their big fat egos …..we won/ you lost nanananana
I hope the country of my birth chooses right…..for themselves and future generations.
It’s all about you……not about career politicians……
Good Luck Scotland
Tet & JJ
So it looks like I’ll be drinking in wotherspoons, dressing myself out Next and shopping in aldis?
Small price to pay.
In fact some might say it’s a step up for me. Lol
For those who like their Italian House music of the early 90’s and are voting Yes next week (or even those clubbers of a similar age to myself voting no, who love a good tune), download “I Say Yeah” by Orlando Johnson on iTunes.
Just search on “I Say Yeah” or “Italo Totalo”. It’s track 8.
Great tune!
HailHail
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.
==========================
YES.
It’s around the middle of season 3 that I realised I was watching something special in terms of character acting, plot development and depth. After that, it became stellar, compulsive viewing and deserves every accolade it received.
One of the greatest TV series ever made, following the classic rules of storytelling but bowing to no humdrum soap conventions, and satisfying every category of quality. You’ll feel a loss when it ends but will have loved the ride.
Its a bit of a pointless exercise going round in circles worrying about how this and that are going to work in an independent Scotland .
First we must grab this once-in-a-lifetime opportunity and get free from Westminster.
After that things will mostly fall into place . A way will be found round any more difficult issues like with every newly indendent country. There will be ups and downs but Scotland will become a wealthier and a better place.
Nacho Neganon has a certain ring to it -:))))
StillinthepubCSC
GlassTwoThirdsFull 18:52
Yeah I missed that but it does not change the fact they are so diluted and spread all over the place it will take a lot more money as of today to sort them into one entity.
I mean if there was such a thing as a multi personality FC then Sevco would be it
As for Souness King and Kennedy if its true, they wont be buying the lot they will be buying a stake like all the others so far
Bottom line is they are a dysfunctional business that needs someone with a spare multi millions mil to buy out every spiv and repair the place
The Three Amigos above will not have that cash to burn on a project
Admin 2 is still their best option
quonno
19:05 on
12 September, 2014
Davidopoulos
18:25 on
12 September, 2014
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…
In fairness to Chick he was the first member of the Scottish media to publicly mention the word administration in connection with THEM.
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Yeah, but ADMINISTRATION could have been the safety word for Chick…
“Honestly???? Is this the best the yes campaign can muster.”
Neganon,
No offence but that is a very very very very very silly comment.
Davidopoulos
18:25 on
12 September, 2014
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?
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No, around Minty his mouth was full…