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Showing posts from November, 2024

Very good financial results for Celtic

Celtic’s financial results for 2023/24 were very good, as they posted a £17.8m pre-tax profit (£13.4m after tax). That said, this was down £22.9m from the previous year’s huge £40.7m profit, though in fairness that was a record for Scottish clubs. This was mainly because 2022/23 included a couple of material once-off items, amounting to £13.5m, made up of a £10m business interruption insurance claim and £3.5m compensation received from Tottenham for Ange Postecoglou. In addition, profit from player sales more than halved from £14.4m to £6.6m, though revenue rose £5m (4%) from £120m to £125m, which was a new record for the club (and indeed Scotland). However, operating expenses increased by £9m (8%) to £117m. Celtic have managed to grow their revenue by £41m (49%) since before the pandemic, up from £83m in 2018/19 to £125m. In fact, they have set a new club record in each of the last two seasons with decent growth in all three revenue streams.   The expectation is that Celtic’s re