CELTIC have released their Interim Report for the six months to December 31, 2019.
Operational Highlights
• Currently top of the SPFL Premiership
• Winners of the Scottish League Cup for the fourth season in a row
• 21 home fixtures (2018:17)
• Secured qualification for the round of 32 of the UEFA Europa League for the third year in a row
• Conclusion of the most successful decade in the history of the club with 18 trophies won
The word “conclusion ” is an odd choice, as it implies the success is over. Surely it would have been better to say something about continuing it into the following decade…
Financial Highlights
• Revenue increased by 6.6% to £53.3m (2018: £50.0m)
• Profit from trading was £7.1m (2018: £6.2m)
• Profit from transfer of player registrations (shown as profit on disposal of intangible assets) £23.0m (2018: £17.6m)
• Profit before taxation of £24.4m (2018: £18.8m)
• Acquisition of player registrations of £15.0m (2018: £1.9m)
• Period end net cash at bank of £32.9m (2018: £38.6m)
• Period end net cash, net of debt and debt like items, of £45.1m (2018: £37.7m)
That’s a fair few quid,and one wonders why it’s being hoarded. Little investment on the field and no sign of the hotel and museum yet.
CHAIRMAN’S STATEMENT
I am pleased to report another strong set of interim results, for the six months ended 31 December 2019. These show revenues of £53.3m (2018: £50.0m) and a profit before taxation of £24.4m (2018: £18.8m) that included a profit from trading of £7.1m (2018: £6.2m). Period end net cash at bank was £32.9m (2018: £38.6m). The introductory page to these interim results summarises the main highlights.
Following the permanent appointment of Neil Lennon in May 2019 and the securing of an unprecedented “Treble-Treble”, the Club entered the new season with optimism. Whilst we were disappointed not to qualify for the UEFA Champions League, Neil and the team quickly put this set back behind them and took on the challenge of a testing Europa League group. They performed with real distinction by winning the group with a match to spare, a first-time achievement, and defeating an Italian Club on its home soil which was also a first for Celtic in the current format of competitive European football. The Club went on to secure its tenth consecutive domestic trophy by defeating Rangers FC in the Betfred Cup Final in December 2019. As 2019 drew to a close the Club reflected on the most successful decade in its history, having won 18 trophies from a possible 30.
Whilst the financial results were absent of the enhanced income associated with Champions League Football for a second year, the overall financial performance improved. In addition to significant gains from player sales, the underlying trading remained buoyant through revenues from commercial arrangements, match day sales, hospitality and merchandising. The profit on disposal of intangible assets recognised in the period amounted to £23.0m (2018: £17.6m). A key contributor was the sale of Kieran Tierney to Arsenal FC. Our period end net cash at bank of £32.9m (2018: £38.6m).
Crucially, we continue to commit substantial funds to our football department.
Continue ?
Salaries have increased over the same period last year and in the summer and winter transfer windows 2019/2020 we invested in ten new player registrations. During the period under review, we secured the permanent registrations of Christopher Jullien, Hatem Abd Elhamed, Boli Bolingoli, Greg Taylor, Jeremie Frimpong, Luca Connell, Lee O’Connor and Jonathan Afolabi as well as acquiring the temporary registrations of Fraser Forster, Moritz Bauer and Mohamed Elyounoussi. In addition, we extended the contracts of James Forrest, Callum McGregor, Nir Bitton, Michael Johnston and Scott Bain. In the January transfer window we subsequently acquired the permanent registrations of Patryk Klimala and Ismaila Soro. And we continued to supplement our first team by developing our own emerging talent, with Karamoko Dembele beginning to secure more first team appearances in recent months and Michael Johnston becoming a regular first team player.
There are costs such as signing on fees , bonuses and wages that don’t seem to register with the support,and in fairness,they can be substantial. And wages go out every month,and there is now no more major money coming in until renewal time or a possible european run.
At the time of writing, we sit at the top of the Scottish Premier League having secured 67 points which equates to 10 more than the same stage last season after 25 matches played. By almost all key footballing measures, performance has improved relative to the same period last year.
The Board is keenly aware of the inherent volatility that exists in football and continues to adopt the self-sustaining financial operating model that has delivered stability and the all-important objective of football success. We will continue to pursue this strategy, whilst balancing the key short term objectives of retaining the SPFL Premiership title, the Scottish Cup and advancing in Europe.
As in previous years, our trading seasonality dictates that the financial performance in the second half of the financial year ended June 2020 will most likely be lower than the first half, owing to playing less home matches and the expectation of receiving less distributions from UEFA competition.
Finally, on behalf of the Board I would like to reiterate to our supporters, shareholders and partners that their commitment is greatly appreciated and their contribution has been once again outstanding in helping to deliver continued success.
Ian P Bankier
7 February 2020
Chairman
To read the full Interim Report, CLICK HERE
Is it me, or is he playing it all down a bit,as though he knew he had to say something, but did his best not to say anything ?
Strange days ahead… especially given that the Dutch and Belgian leagues are apparently talking of a merger.
Away from that, the Times of London seems to be quite pleased that a famous name,of not famous player, is now associated with our neighbours at Ibrox…
None of that makes any sense, but then neither did Pele,the great Brazilian, when he had a trial at Ibrox, but turned them down after he figured the crowd weren’t really his sort of peepil.
Caption
That means she is preggers mate.
Caption : ‘You DO know you’re not REALLY pregnant, don’t you Alfie. Alfie, look at me…’
Sky Translation: ‘Alfredo Morelos keeps the ball after scoring a goal against Celtic’.
Caption
I wanna I wanna be traynor
He’d need to stick a few space hoppers up there to get close to the required affect.
Caption : After all his recent shenanigans, Morelos discovers that James Traynor has decided to stay close to him at all times.
And the fat controller hasn’t seen his cock in 30 years,,,,
He fredo stop this phantom pregnancy pish jist cause slippy Gee hiz a new golden boy wee Hagi
Thats wht happens when ye keep backing oan tae griff the guys a baby making machine
If it is boy I call him Jabba as he is round like big balloon
That’ll do nicely – we love playing against the saints while the jambos could quite easily give sevco a lot of problems at the Swinecastle midden.
Yoker,
Yes my friend, a decent draw & a difficult trip to Tynecastle for Sevco.
A good day!
Not bad comrade. I hope the worst of your storm has passed by now as well. Storms like that give me the shits.
I enjoyed the first half (the mental conditions were at least a bit of a giggle anyway) and some decent football was played despite everything. A fine angled shot from Oli followed by what looked a simple enough goal from Broonie but his speed of reaction to get down to that ball and force it into the corner was something else. The second half was a very humdrum affair as it was obvious the lads just wanted to see the game out. Good to see big Vacuum get on the scoresheet at the end though. I haven’t seen so much litter flying around the place at a professional football match since the Argentina confetti World Cup when I was a wean.
Nice, comfortable afternoon with the fringe/injured players getting some good game time. Could have been a potential banana skin due to the conditions.
Was never going to be a banana skin!
At halftime there seemed to be no effort at all made to pick up any of that dolphin killing plastic blowing around.
Anyway football was entertaining enough.
Bauer looked average as did boli.Julien looked a bit wrongfooted at times…Elyounoussi .. you can see he’s a player .Klimala , looked keen enough and seemed gutted to get subbed , which is not a bad thing.
Thought the little we did see of Bayo was ok. His touch and body shape when in on goal was really poor. You could see a mile off he got caught in 2 minds , but after that I was really impressed with his movement off the ball.Some of these guys are only going to progress with game time , but how that happens is up to Lenny.
Caption: Jimmy Bell said he hopes it’s a Mitre Mould master, cheap, white and orange.
If this is duplicated, my apologies and can’t comment on Diary as haven’t time to read it or comments. Sure both will be brilliant as usual.
Crazy weather, job done will suffice from me. EXCEPT for, Klymala reminded me too much of Skepovic and typical of the fat, greedy bastard Lawwell’s approach to Celtic FC. Of course his approach to Peter Thomas Incorporated is a damn site more generous. Get him tae fuck, PRONTO!
FC not PLC
HH
PS NINE in a row is all that matters to me this season, the SC and EURO games just optional extras should we succeed in either/both.
Caption..
All together now
Alfredo has only got three balls
When the wife cottons on
he’ll have no balls at all
Caption……….
If Carlesberg did Alien movies……
Totally professional from the bhoys. Dominated the ball and played clyde at our pace.
I was hoping for paddy to get on the scoresheet great chance but the keeper did well.
Solid from the bhoys and no injuries though the clyde player should have seen red instead of yellow.
HH
Caption: Good job you fitted that tracker to the ball or it would never have found the net.