Celtic report hike in profits

Celtic have reported a pre-tax profit of almost £10m for the year-ended June 30, 2013, the 125th anniversary of their founding in 1888.

Last Updated: 23/09/13 at 16:40 Post Comment    Bet with SkyBet  Scottish League Cup Winner 13/14. Click here to bet.

Celtic: Profits up in 125th anniversary year

Celtic: Profits up in 125th anniversary year

The Scottish champions' on-field success resulted in the club turning a £7.37m loss into a £9.74m profit for the 12-month period.

The SPL and Scottish Cup winners also reached the last 16 of the Champions League, taking the number of their home games to 30, up six on the previous year.

Overall group revenue increased by 47.7% to £75.82m, and the club ended the term with £3.76m in the bank, wiping out £2.77m net bank debt from 2012.

Commenting on the figures, Celtic chairman Ian Bankier said: "I am delighted to report the success on the field and, in particular, our European campaign, have contributed to a very sucessful trading period.

"This is not only a highly satisfactory result, but represents a five-year record profit.

"While the undoubted highlight of last season was qualifying from the group stages of the Champions League, it was crucial that we won the SPL title for the second time in a row to get another shot at Europe.

"The momentum we build by competing in Europe at this level in two successive years is considerable, both financially and in terms of our player pool development strategy.

"We have enjoyed tremendous support from our fans, sponsors, business partners and shareholders and I thank them all."

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