23rd Feb 2024 19:04
Celtic PLC - Glasgow-based football club - Says revenue for the six months to December 31 increased 11% to GBP85.2 million from GBP76.5 million the year before. Pretax profit however decreased 10% to GBP30.3 million from GBP33.9 million. Player registrations have more than doubled to GBP12.9 million from GBP5.7 million.
Company says it benefitted from 2022 and 2023 Champions League qualifications, and that it re-invested a "significant portion" of its revenue increase into football wages and salaries. Operating expenses rose 11% to GBP53.2 million from GBP48.4 million. Cash balance decreased 6.9% to GBP67.3 million at December 31 from GBP72.3 million at June 30, mainly due to spending on creating a new Barrowfield training centre, finalising Lennoxtown developments and future stadium expenditure. Says it was unable to add to the squad despite having sufficient resources, noting that the January transfer window is a "notoriously difficult" period.
Current stock price: 128.00 pence, up 2.4%
12-month change: up 15%
By Emma Curzon, Alliance News reporter
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