Celtic's profits hit £10m

CELTIC have recorded a pre-tax profit of almost £10million.

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The club's annual figures show a 48% jump in group revenue to £75.8m, boosted by their European success.

The Scottish champ-ions announced a profit before tax of £9.74m in the year to the end of June 2013, a perform-ance that wiped out their bank debt and left them with £3.76m cash in the bank.

The club spent £9.66m on players, compared to £5.24m in the same period last year.

In a statement, chair-man Ian Bankier said: "I am delighted to report that success on the field and, in partic-ular, our European campaign have contributed to a very successful trading period. This is not only a highly satisfactory result, but represents a five-year record profit.

"Consistent with such a robust financial performance, our net cash at bank position at the year end was £3.76m, an improve-ment of £6.53m from the same time last year.

"Whilst the un-doubted highlight of last season was quali-fying from the group stages and playing in the last 16 of the Uefa Champions League, it is crucial that we were able to win the Scottish Premier League title and get another shot at Europe."

The chairman thanked fans and said: "Throughout the jour-ney we have been hugely mindful of our supporters, who have performed the role of the '12th' man superbly at each and every crucial fixture, not least of all the recent enc-ounter with Shakhter Karagandy.

"This year demon-strates the impact that football success brings to Celtic plc.

Chief executive Peter Lawwell said: "We have a good financial found-ation and stability to see us forward in terms of the challenges that will no doubt face us in Scottish football."

linzi.watson@ eveningtimes.co.uk

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