‘Smarter spending’ sees Celtic score €18m profit

CELTIC chief executive Peter Lawwell claims a policy of “smarter spending” lies behind the Parkhead club’s financial rejuvenation.

The SPL champions posted a profit before taxation of £17.94 million (€26.6m) for the final half of 2006.

The interim results compare to a loss of £960,000 (€1,427m) in 2005.