Oof - Celtic's Interim Financial Results

Celtic plc Interim Results

• Turnover decreased by 22.8% to £36.11m.
• Profit from operations of £4.71m (2008: £12.68m).
• Profit before taxation of £1.27m (2008: £8.36m).
• Period end bank debt of £3.13m (2008: £0.97m).

 

is that good am hopeless with numbers??

 

better than the huns. worse thn two years ago.

 

dont think so ha, am clueless ti like but profit this year has fell from that of 2008 a think

 

Thats actually quite worrying to be honest, we dont want to be loosing money

 

This won't include the new sponsorship or potential shirt sales. Also season ticket renewals and ticket sales are probably down due to a number of contributing factors -recession, bad performances, money that NAKA brought in etc. No CL football was also a major factor.

 

Tough times financially, the £10 million loss from CL makes all the difference. Debt to bank increased marginally, but still more than manageable. Interestingly, however, Reid's comments regarding the league at present were very negative. There will undoubtedly be pressure on Mowbray from inside CP. The executioner's scythe will not be far away.

 

expenditures went down due to champions league bonuses not paid out. revenue went down due to champions league money not coming in. player investment went up slightly year over year. looks like ticket sales plummetted. this is why there needs to be a sense of urgency in improving this team and making sure it takes it's rightful place. patience is a virtue but so is the urgency of now. making the champions league this year was so important for so many reasons . this has really let the huns off the hook financially

 

its not really losing money, we just havnt made as much because we didnt get to champions league, attendances started to drop last season and have started to drop again this season and also the board put a good bit of investment in the summer and january compared to the same time last year

 

Even if Rangers do win the league, the cash will be a drop in the ocean to what they owe...all they're doing is prolonging the inevitable.

The wolves are at the door, Wally!

 

Figures are slightly better than I expected, what with the collapse of the TV deal, reduced season ticket sales, lower attendances and no Champions League revenue etc I'm not surprised that turnover is down while debt is up slightly, though as Daver said the debt is still very manageable.

Will be interesting however to see the year end figures as at 30 June 2010, that will really tell us how much of a financial hit we've had to take this season.

 

£1.27m profit before tax though.
What exactly gets taxed? Everything? If so whats the tax on £36.11m? About 17mill?
Not good lol

 

No tax legislation is more complex than that, plus it's only the taxable profit that will be subject to tax not the turnover.

There are non allowable expenses and allowable deduction that would affect the taxable profit which would not be shown in the primary financial statements. Also due the amount of losses we've accumulated over the years they can be used against taxable profit so the tax is likely to be zero.

 

John Reid? Is that you???

 

lol, afraid not :icon_mrgreen:

I'm just a sad person that know's a little bit about financial statements

 

Give that we've got no CL money and that *-awful act of robbery by SKY/ESPN to deal with, not a big suprise.

No doubt will become CELTS ANNOUNCE MAJOR LOSS in tomorrow's chippy wrappers.

 

It is our financial stability that now gives us the means to plan for the years ahead and to re-build a successful and winning team. As seen in these Interim Results it has already allowed us to have an eye to the future, as well as to the task of trying to win the Scottish Premier League title back this season. During last summer it enabled us to increase our investment in football personnel, committing just under £8m against just over £7m at the same time the year before. That has contributed to net bank debt at 31 December 2009 increasing from £0.97m to £3.13m, a level that is manageable and has therefore permitted further player trading in the January registration window.


If you read the whole article I find it pretty amazing that our debt has went to 3 million pound from 1 million , astonishing results considering we never made the champions league group stages and never won the league credit where its due to the board the only person at the club who seems not be be deserving of credit is Mogga but Im sure it will come with a stable defence .

 

In the Chairman's comments he also claims that we have over 50,000 season ticket holders, can't believe this personally when you see so many empty seats at Parkhead.

If we lose to the Huns on 28th February I think the attendances will drop further at Celtic Park, less attending means people lose the appetite for football, yes they might have their 2009-2010 season ticket, but I worry about next season if things don't improve dramatically on the park, we need to be far more consistent.

 

TBH the numbers are not that bad considering we missed out on the CL money. But we cannot afford to not play the CL for a longer period, that money is vital to us to keep the debt at a certain level (I'm not an expert on economy, but don't some have a bit of debt on purpose? Tax reasons?).

Still we can't afford to go out and buy players for 5, 6, 7m or more. And at the end of the day we probably have to balance the books by selling players if we don't have the CL money to rely on.

And bottom line is we are still in a much better position financially than Rangers, CL money or not, which hopefully will help us on the pitch in the future and in the long run.