Solid accounts figures from Celtic despite £7m


Celtic released accounts today for the year ending 30 June 2012, a season in which they won the league and exited Europe at the Europa League group stage.  Turnover was down less than £1m at £51.34m but bank debt rose £2m to £2.77m despite a £7.37m loss (the difference between the increase in bank debt and the trading loss is due to the amortisation of player registrations, which hits the accounts evenly over the period of a player’s contract).

Football and stadium income dropped by £2m and merchandising dropped by £1m while multimedia and other commercial income rose almost £2m.  Football and stadium operating costs rose by over £2m.  The drop in stadium revenue and corresponding rise in costs are indicative of the wider economic pressures.  Inflation is affecting Celtic’s costs and Celtic fans’ ability to spend with the club.

With debt sitting at around 5% of turnover and a significant uplift in income this season assured, the club is in remarkably rude health this far into an economic downturn.  Champions League revenue this season should have a transformational effect on how Celtic can forward plan, potentially reversing that £7m loss.

Economic headwinds are likely to supress key ticket and merchandise revenue for the foreseeable future but Champions League revenues seem immune from these challenges.  The primary plan for this season must be to qualify for the group stage of Europe’s top competition next season. Get there and we can continue to operate with the existing cost structures (and more) and still pay our taxes!

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  1. Dontbrattbakkinanger on

    ole Old Tim – probably not going to make it before game tomorrow.



    Looking at going on Saturday.



    Chris [Subterranean] will be there tomorrow.

  2. ”RANGERS will tonight send their support to those who lost loved ones at the Hillsborough Disaster with a minute’s silence before the game with Queen of the South.



    A total of 96 Liverpool fans perished at the FA Cup semi-final between the Reds and Nottingham Forest in Sheffield on April 15, 1989.



    It is completely unimaginable that anyone could attend a football match and never return home from it safely.



    The Rangers family can relate to the sorrow felt by families on Merseyside and beyond following the loss of 66 Light Blues supporters who died in the 1971 Ibrox Disaster.



    We hope the independent report released last week will help to bring some level of comfort now the truth about what happened that terrible day 23 years ago is known.



    Rangers and Liverpool followers have a strong bond as they have united to commemorate the tragedies which have so very sadly marked the history of both clubs.



    We ask everyone attending tonight’s Ramsdens Cup quarter-final with Queens to join us as we pay our respects ahead of kick off.”











    I wonder when the huns will start asking who was to blame for the Ibrox disaster.

  3. Talking of tops.



    I wear polo tops most of the time, and the ones the club sells are not very good quality.



    They get very distorted after just a few washes.



    They should IMO, sell quality tops, the same standard as say Kartel, I would willingly pay much more for these tops.



    Due to the poor quality of the ones being sold, I have stopped buying them.



    Maybe the club should look at this.

  4. traditionalist88 on

    fanadpatriot (from prev)



    Oh yeah, I’m pretty sure I read that around 75m people in the States claim Irish heritage. Phil had an article around the time we were there for the Madrid match about how we could increase our popularity with by targetting this particular market and there is obvious potential there. He got a couple of negative responses as he suggested that we almost claim the famine as ‘our’ historical event or something to that effect. I think his wording was perhaps ill advised on that occasion but the point remains we have huge untapped potential in cetain areas.



    7am kick offs are a big obstacle though!




  5. Paul67



    I wonder if Chuck will still want to compare accounts at the end of the season?



    If we are operating at a loss with 10,000 more season tickets and SPL money, how will Sevco be able to stay afloat?

  6. Dontbrattbakkinanger on

    Just had an e-mail invitin’ me to a ‘Sexual health taster session’.



    …presumably featurin’ archive footage from the lassies torlet in the oooooooooooooooollllllllllllllle Burns Howff.

  7. Tim Malone Will Tell on

    Looks like the ole “Amortisation” reduces your bank debt compared to your trading losses – obviously we should sign more players at huge transfer fees !!!



    I’ve suddenly come over all “David Murray”…

  8. The Battered Bunnet on




    If it’s anything like the oral health taster session I went to last week, be really careful what you do with the Corsodyl.

  9. 50 shades of green on

    off to the pub to watch the football tonight after training.better no be that


    bling bling cup thats on.



    they widnae day that wid they.

  10. Dontbrattbakkinanger


    17:14 on


    18 September, 2012


    Just had an e-mail invitin’ me to a ‘Sexual health taster session’.



    …presumably featurin’ archive footage from the lassies torlet in the oooooooooooooooollllllllllllllle Burns Howff.




    just walk in with the ole fifty shades of grey tucked jauntily under your arm..and you will be fine. Hh

  11. AFAiK, at least 40m in the USA should be classified as Scots-Irish (or Ulster-Scots if that floats your boat).



    Not really the demographic we usually chase.



    If were at the level of Barca, Real, Man U etc, yes, we could get big pickings in the States but not now IMHO.

  12. Decisions, decisions, decisions.



    What to watch tonight – Milan v Anderlecht, Real Madrid v Man City, B Dortmund v Ajax…



    Or perhaps ‘Them’ v QOS?







  13. oldtim67



    Price for 12yr old ranges from £23 -£37,think you got a bargain.


    3 bottles ?what are you going to do for next weeks supplies?

  14. It looks like the reurn of the “Golden Oldies.”


    We had the Benfica game and Eusebio a few days ago and now the famous unsung hero “AMORTISATION” has made a guest return.


    Anyhow a wee question.


    Why the delay?


    It’s 80 days since the close of accounts. Shirley we can produce a set of preliminary accounts much sooner than 80 days?


    Have we been waiting for the glow of a CL encounter, and the feelgood factor associated with that and the money from the Ki transfer to ensure the numbers are not scrutinised or analysed too closely.


    Or did we delay till the end of the transfer window to resist pressure to spend?


    For the life of me, I don’t see why not.


    Maybe we need to improve the accounting and reporting processes?



    ‘GG depreciation is an underused financial expression.

  15. Sorry, off topic.


    Repost from last thread.





    17:31 on 18 September, 2012






    Auldheid rightly states that the club have a lot of issues to consider,



    I fully sympathise with those sentiments.



    However, as individuals, we, too, have issues to consider.



    Do we put aside our own feelings?



    Knowing that the cheating has been exposed and in the event of the perpetrators, i.e., the games authorities, not responding in an open ,honest way and continue in the rehabilitation of TRFC, then we are being asked to accept being second class citizens.



    Personally, I don’t think that I can accept that. I have never eaten anyone’s dirt in my life and I cannot start now.



    The hun has ,to date, shown that they will follow them to the 3rd. Div.



    Would today’s Celtic support continue to support our club if they unilaterally opted to leave the league and operate at a lower level elsewhere?



    I would.



    If reconstruction is pushed through, would each club have to sign up to it, or could they opt out?



    A case of “we never left the League, the League left us”.



    Anyway, I believe that when the dust settles on all outstanding disreputable matters, Celtic have some serious decisions to make.



    I don’t envy them, nor would I condemn them if they feel that they can’t act with the integrity demanded of the situation.



    They have a business to run, I am merely a supporter.

  16. No Bobby Does It Petta on

    Rangers’ PR strategy edges toward a “caring club” brand. Press today includes their charitable work and references to the “Rangers family”.




  17. DBBIA



    I tried to access the Sanyford clinic yesterday and it was blocked on my PC..



    for work purposes of course….

  18. Son of Dan,



    You mentioned the Inverness bus…. i used to travel on it weekly, 15 years ago now though. Do you still know people on it?






    Also can anyone remember the last time we seen some accounts from the dark side?

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