Celtic report pre-tax loss of £7.3m in year-end results

CELTIC FC today announce a pre-tax loss of £7.3 million for the year to 30 June 2012. Last year the Glasgow club posted a £0.1 million profit.

Turnover saw a slight drop from the previous year’s figures from £52.5 million to £51.3 million, while operating expenses rose by £1.93 million.

The club said operating costs rose due to a rise in “labour, cost of sales, travel and accomodation costs together with additional costs from the dispute with FC Sion and various SFA/SPL matters.”