Lawwell not concerned by Celtic £7m loss

Celtic chief executive Peter Lawwell played down the impact of a £2m increase in debt and an annual loss of more than £7m as the Clydesdale Bank Premier League champions reported their preliminary financial results today.

The preliminary results for the year ended June 30, 2012, showed a decline in turnover to £51.34m, an increase in operating expenses of £1.93m and an overall loss in the period of £7.37m against a very slight profit the year before. The level of debt has risen from £0.53m in June 2011 to £2.77m in June 2012.