• STV
  • MySTV

Celtic record £17.4m profit after first half of season

The club have announced their interim results for the last six months of 2017.

Celtic Park: Home of the Scottish champions.
Celtic Park: Home of the Scottish champions. SNSGroup

Celtic made a post-tax profit of £17.4m in the final six months of 2017, according to the club's interim report.

The figure is slightly down on the same period in 2016 but revenue increased by 17 per cent to £71.5m.

The club reported they had £30.9m net cash in the bank at the end of the year - more than £12m up from a year earlier.

Revenue from football and stadium operations was up more than £4million to £26.8million while multi-media and commercial income experienced a similar rise to £34million.

The first half of the 2017/18 campaign saw Celtic qualify for the group stages of the Champions League for the second successive season.

They retained the League Cup and set a record-breaking 69-game unbeaten domestic run, picking up on the previous year's form.

Chairman Ian Bankier highlighted in a statement on the Celtic website that it was also during this period the club secured Olivier Ntcham and Kundai Benyu on permanent deals while Partrick Roberts rejoined.

"We are delighted with the sustained period of success on the pitch, as Brendan Rodgers, his backroom team and the players have built on their achievements of last season," Bankier said.

"Our profit on disposal of intangible assets of £0.5m (2016: £2.0m) largely reflects the transfer of the registrations of Gary Mackay Steven and Saidy Janko.

"The board is also pursuing initiatives to enhance the club's assets at Celtic Park, so as to aid our playing competitiveness, as in the case of the recent pitch improvements, and to develop and commercialise the space we occupy, as in the case of our recent planning application for a hotel, retail store and museum.

"The board's investment policy, nonetheless, recognises the uncertainty inherent in football, and our long held strategy of operating a self-sustaining financial model."

Looking forward, and entirely in line with our trading seasonality, we do not expect the same level of financial performance in the second half of the year.'
Ian Bankier, Celtic chairman

Looking forward to the next six months, Bankier continued: "At the time of writing, we sit eight points clear at the top of the Scottish Premiership and, as we continue to progress in the Scottish Cup, we retain the prospect of winning an historic back to back domestic treble.

"Subsequently, during the January 2018 transfer window, we have invested further by acquiring the permanent registrations of experienced German Bundesliga defender Marvin Compper, exciting young Scottish talents Lewis Morgan and Jack Hendry and the temporary registrations of sought after midfielder Charly Musonda and goalkeeper Scott Bain.

"The board is committed to a course of investment in the playing squad so as to be as competitive as we can be within the structure of Scottish football and on the European stage."

Bankier doesn't expect such high results the next time Celtic hold their six-month review though.

"In this period we will play fewer home fixtures and revenue from European competition will be lower," he continued.

"Our key objectives for the remainder of the year are to win the Premiership, secure the Scottish Cup and build towards the European qualifiers in the summer.

"The club will also continue to look at ways in which to develop Celtic Park and the surrounding area to create a destination and match day experience that all Celtic fans can be proud of."

Download: The STV News app is Scotland's favourite and is available for iPhone from the App store and for Android from Google Play. Download it today and continue to enjoy STV News wherever you are.

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. This must be at least 6 characters long. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This must be at least 6 characters long.
ShowHide
This field is required. This must be at least 6 characters long.
You must be over 16 to join STV.
This field is required. This doesn't appear to be a valid date
We need this to check that you live in an STV region.
This field is required. This doesn't appear to be a valid postcode
Would you like us to email you about our great shows and services from time to time?
We'll only send emails we think you'll like (see example) based on information you have supplied and shows you have watched on STV Player. For details on emails and advertising, see our STV & You page.
Would you like to receive emails from the Scottish Children's Lottery about draws, instant games and competitions?
We support the Scottish Children's Lottery (SCL), which is managed by our colleagues at STV ELM Ltd. You can find out more about the SCL on its website, including its Privacy Policy.

By continuing you agree to our Terms of Use, and understand our Privacy and Cookie Policies.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.