Celtic announce £38.6m revenue increase in annual results

Celtic stressed the importance of Champions League football after the club announced a massive revenue increase in their annual results.
Celtic credited the importance of Champions League football. Picture: John DevlinCeltic credited the importance of Champions League football. Picture: John Devlin
Celtic credited the importance of Champions League football. Picture: John Devlin
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Celtic plc reported a £6.9m pre-tax profit (up by £6.4m) for the year ending 30 June, 2017, with £90.6m in group revenue.

This was up £38.6m from the previous year, thanks in large part to the club reaching the Champions League group stages in Brendan Rodgers’ first season.

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A statement on the club’s website, signed by chairman Ian Bankier, read: “These results...reflect the paramount importance to the company of participation in the group stages of the UEFA Champions League.

“The foundations for that success are based on consistency, stability and the implementation of a prudent long-term strategy that dictates that the company invests in its football operations, whilst maintaining a self-sustaining financial model.

“The board considers that this strategy remains appropriate for Celtic plc and will continue to seek out and retain top talent on and off the field of play so as to deliver football success and, in turn, shareholder value.

“On behalf of the board I warmly congratulate Brendan Rodgers, his staff and the players on a truly remarkable season during which we achieved an Invincible Treble, a sixth consecutive League Championship and consecutive qualifications for the group stages of the UEFA Champions League. “Whilst the fundamentals that were in place at the Club when he joined with his staff were strong, Brendan has been a remarkable catalyst.”