Celtic report rapid rise in revenue for first half of season

Celtic's income in the first half of the season almost doubled compared to the previous year, according to the club's interim report.

Revenue for the second half of 2016 was £61.2m, an increase of 95% on the same period in 2015.

The latest figure was higher than group revenue for the whole of last season (£52m).

Celtic's qualification for the Champions League group stages helped them make a pre-tax profit of £18.6m over six months, a rise of almost £7m in the previous season, when Celtic competed in the Europa League groups.

The report reveals the club spent £9.5m on transfers during the summer. Manager Brendan Rodgers brought in Moussa Dembele, Scott Sinclair, Cristian Gamboa and Dorus de Vries.

The Scottish champions received £2m after selling Stefan Johansen to Fulham.

Celtic reported cash in the bank of £18.6m at the end of the year, up almost £11m in 12 months.

Chairman Ian Bankier wrote: "The board is optimistic about our immediate future and firmly supports the self-sustaining financial model that has served us well.

"We continue to seek to influence developments in domestic and European football through representation on the board of the Scottish Professional Football League, the European Club Association executive board and the UEFA Club Competitions Committee.

"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 2017.

"In this period we will play fewer home fixtures and no European games."

More on this topic

Odsonne Edouard hits last-gasp winner at Dundee to send Celtic 10 points clear

Celtic boss Neil Lennon condemns bottle-throwing incidents at Easter Road

Rodgers’ vision trumps destiny

Police probe footage of offensive chants about Brendan Rodgers

More in this Section

Friend hails Carty's late score as Connacht sealed bonus point win over Benetton

Deschamps satisfied as France make convincing start to qualifying campaign

Southgate: Sterling now one of England’s leaders

Clifford back in Kerry’s starting line-up


Lifestyle

Wish List: Eight great Irish buys for your home

Seven beauty tricks to update your look for spring

The lost world: Why breathtaking Malta should be your next holiday stop

Ring leader: Why boxing is good for the body and mind

More From The Irish Examiner