Celtic Share Discussion Threads

[borderriever] 20/2/2009 19:22

There will be a lot of English and European clubs going into administration this year as the credit crunch squeezes the life out of clubs that are heavily in debt. Celtic will amongst others find themselves spoilt for choice this summer for "cheap players" transfer and wages wise.
If it wasnt for the Sky tv deals the English Premiership would be far up the sh*it creek.

[louie76] 20/2/2009 18:04

Celtic's finances please Lawwell

Lawwell said Celtic were frustrated during the January transfer window
Celtic have reported a dip in profits from £10m to £8.3m for the six months to 31 December 2008.

But the club's chief executive Peter Lawwell welcomed a reduction in debt from £3.6m to £0.97m - with turnover also rising by 10.3% to £46.7m.

"We're very pleased with these results, but results on the field remain key to the success of the club," said Lawwell.

He said money was available in January to strengthen the squad, but a "stagnant" market ruled out any moves.

Lawwell told BBC Scotland that the club had been keen to add to Gordon Strachan's playing staff.

"We've won three league titles in a row and remain in contention for all three domestic trophies this season," he said.

"There was real frustration at not being able to add to the squad in January, but there was a lack of real quality available in a very stagnant market.

"The resources were there to fund players coming in but we, like many other clubs, were left frustrated at the availability of players who could realistically bring something to our squad."

[louie76] 20/2/2009 17:04

celtic plc interim results
Newsroom Staff
CELTIC plc Interim Results for the six months to December 31, 2008 have today been announced.

SUMMARY OF THE RESULTS
Operational Highlights
• Currently lead the Clydesdale Bank Premier League.
• Scotland's sole participant in the UEFA Champions League Group Stage.
• Co-operative Insurance Cup finalists.
• Continued participation in the Homecoming Scottish Cup.
• 15 home matches played in the period (2007: 16).

Financial Highlights
• Turnover increased by 10.3% to £46.78m.
• Operating expenses increased by 4.9% to £34.10m.
• Profit from operations of £12.68m (2007: £9.92m).
• Profit before taxation of £8.36m (2007: £10.07m).
• Period end net bank debt of £0.97m (2007: £3.63m).
• Investment in players of £7.01m (2007: £1.04m).

CHAIRMAN'S STATEMENT
The challenge facing us in the last six months has been to build upon the success of last year amidst the most difficult economic environment that many of us have ever experienced. Far larger organisations than ours have fallen spectacularly from world-leading positions to oblivion or reliance on public funding.

Despite this backdrop, I am pleased to be able to report positively to you on our results for the six-month period to 31 December 2008. This is a testimony to the hard work and committed support of everyone associated with Celtic; from the Board to the backroom, through management and players, from shareholders to supporters. I want to start by recording my thanks to all of you.

As Scotland's sole representative in the group stages of the UEFA Champions League this season, our revenues for the first six months of this financial year increased by £4.35m, 10.3%, over the same period last year, to £46.78m. Increased pre-season match fees and merchandising sales also contributed to the uplift in revenue, even although we played 15 home games in the period rather than the 16 of last season. The importance of European football has never been more obvious.

Because of your support, our merchandising revenues rose by 6.4% to £10.89m despite the very challenging environment.

The number of season tickets holders is this year at an all-time high, with more concessionary tickets sold than ever before, a remarkable achievement in difficult times. Though our numbers are up, the income generated is down as a result of our intentional decision to freeze season ticket prices last year and to introduce new, further concession tickets to encourage a new generation of younger fans and to give something back to our fans to reflect our strong financial results in the previous year. Despite the resultant loss of potential revenue in the short-term, we believe that by doing so we have taken the right decision for our supporters and Celtic's longer-term future.

Our operating expenses also rose over last year by £1.59m to £34.10m, a rise mainly driven by additional wage costs following the changes made to the first team during the summer of 2008. Samaras, Maloney, Loovens, McCourt and Crosas all joined us on permanent contracts, with our investment in the first team squad in the period reaching just over £7m compared with £1.04m the previous year.

At £8.36m our retained profit for the six months is £1.70m down on last year's interim figure reflecting exceptional operating expenses not incurred last time, an increase in amortisation following the increased investment in the playing squad and reduced proceeds from player trading. Our net bank debt of £0.97m at the end of the half year compares favourably against last year's £3.63m reflecting the strong trading performance.

Although the coming, second half of the year with fewer home games to play and no further European football will generate less revenue than the first - the normal pattern has been for full year profits to be less than the interims – our midway position nevertheless allowed resources to be made available during the recent transfer window as they have been in past years. However, general market conditions and particular circumstances curtailed the product of those endeavours this year.

In the past we have been criticised, and indeed on occasions pilloried, for adopting a careful and business-like approach. We know well that we are much more than just a business, and for many of us supporting Celtic is a way of life. The intense and perfectly understandable hunger for immediate football success that this fuels must always be balanced with the need to ensure that the underlying financial model - and the football success dependent upon it - can be sustained, not just in one year, but year after year. Others in football and elsewhere are finding out just how difficult achieving and maintaining that balance can be.

We know from experience that sound finances are necessary for football success, and vice-versa. While nothing can ever be guaranteed, we have managed to achieve this balance in recent times. Success has been delivered consistently on the football field in the last few years, and our financial model is proving to be reasonably resilient.

But football is not immune to wider social changes and we cannot expect not to be affected at some point by the recessionary forces in the wider economy. Therefore we cannot afford to be the least bit complacent and we do not underestimate the challenges that will face us later in the year in both football and in financial terms.

But at this stage of the year our finances are sound, we have everything to play for in the League and Cups, our supporters are strong and our commitment to deliver success remains undiminished.

Dr John Reid
Chairman
20 February 2009

[louie76] 29/1/2009 00:29

The treble's still on!

[louie76] 27/12/2008 22:24

A hard fought victory today. A couple of good signings during the transfer window should see us marching on to 4 in a row!

[louie76] 23/12/2008 11:43

Merry Christmas!
All the best for the 27th

[louie76] 21/12/2008 16:10

Good three points going into Rangers game. Good to know no matter what, we'll go into the new year on top of the league.

[louie76] 13/12/2008 18:38

A missed opportunity to go 6 ahead today. Lots of twists and turns to go this season I suspect.

[mryesyes] 08/12/2008 17:39

gOOD OPPORTUNITY FOR THEM TO DELIST USING LSE:sut MODEL
IE WITH OPTION FOR ANGRY FANS TO SELL AT PRE-DELISTING PRICE
BE CAREFUL

[louie76] 06/12/2008 23:25

Provan is insane!

[louie76] 06/12/2008 23:24

What failure?
All I can see is success.
Important three points tomorrow on our march to 4-in-a row and another CL £10mill ie more success.

Down with English protectionism!

[lbo] 03/12/2008 23:26

It's a Des-aster
QUESTIONS MUST BE ASKED ABOUT CELTIC FAILURE

[louie76] 01/12/2008 19:29

I'm keeping my share!

[lqs] 01/12/2008 19:10

mryesyes

What is your home planet?

[mryesyes] 01/12/2008 19:00

The football club board can delist the plc

[louie76] 01/12/2008 10:39

mryesyes, i'm struggling to understand what you're talking about.

Anyway, just on to say that we're now 7 points ahead in the league and a win at Ibrox later this month should see the passport for the champions league in the post.

[borderriever] 26/11/2008 17:38

Hail,hail ;-)

[louie76] 26/11/2008 16:53

Yes, once the Premiership financial bubble bursts they'll come begging for Celtic and Rangers to join. Pity i've no funds left to invest.
The board should be congratulated as the club are in a great position to weather the financial storm.
Europe is a bonus after the initial CL group stage IMO. The domestic trophies are the priority for me as the league is a passport to the CL 10mill and more importantly, gives a years worth of bragging rights.