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Celtic: Finance expert praises profits from last financial year

Celtic: Finance expert praises profits from last financial year -Celtic News

Football finance expert Dr. Dan Plumley has been left praising the profits that Celtic announced for the last financial year.

The Lowdown: £6.1m profit

Ange Postecoglou’s side announced last Tuesday that they had turned a profit of £6.1m before tax for the year ending 30th June 2022, during which they regained the Scottish Premiership title off of the hands of bitter rivals Rangers.

Their revenue over the same period totalled £88m, with £29m of that figure made up of transfer fees received for players.

The Latest: Celtic praised

Speaking to Football Insider, Plumley praised the Parkhead outfit for turning over a profit following the losses made due to the global pandemic, adding that the £29m they received in player trading was a ‘record’ for the club:

“They are a really, really positive set of figures.

“Revenue is up by 45 per cent. They have turned a loss into a profit following Covid.

“They have also had record player trading with £29m. You can have an argument about whether that is good or bad, but it’s a phenomenal amount of money to generate from the transfer side of things.

“There is a cash balance of £30m as well, which looks healthy. So, across the board, I think it’s a very positive set of figures for Celtic.

“You also have to factor in that it doesn’t include Champions League money from this season. So, you’d expect to see another uplift in revenue at least in the next set of accounts.

“As always, they are well set to dominate in Scotland. They are in pretty good financial health.”

The Verdict: Financial stability

The aim for the Hoops will now be to try and maintain a period of financial stability after the effects of the pandemic.

As Plumley mentions, they will be able to count on money gained from the UEFA Champions League for the next financial year, and could also generate significant revenue if they win the SPFL title again.

They are currently two points clear at the top of the table, so all is looking rosy at the moment for the Celts.

However, they will not want to sacrifice selling one or two of their top players either in order to help generate the funds, so will want to get themselves in a better position in order to fend off any interest.

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Article title: Celtic: Finance expert praises profits from last financial year

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