It Keeps Getting Better For The Hoops.

[ChampionsElect]

Celts Make Profit For Second Year Running.

The success of Celtic Football Club on the pitch is having an even better affect off it. For the second year running Celtic have been able to announce a pre tax profit, this year of £4.4 million.

Through the combination of Peter Lawwell, John Reid, directors, winning the SPL and getting to the last 16 of the Champions League, Celtic are starting to erase any debt they had. Their debt is now down to a small £3.52 million, small especially compared to their bitter rivals at the other end of the city.

The profit could have been even more if it were not for early exits in both domestic cups but Celtic fans will not be complaining as they know finances play a huge roll in the clubs future. If Celtic can continue to build on this then it leaves them in good stead to expand the club, this could be by buying new players or even increasing the size of the stadium.

A good year financially for the SPL Champions, considering they have built a brand new training complex - Lennoxtown.

SUMMARY OF THE RESULTS

Operational Highlights

• Winners of the Clydesdale Bank Premier League
• Progression to the last sixteen of the UEFA Champions League, playing five home European fixtures (2007: 4)
• Season ticket sales continued to be in excess of 53,000
• 28 home matches played at Celtic Park in the year (2007: 28)
• Opening of new training academy at Lennoxtown
• Contract extensions awarded to Artur Boruc, Scott McDonald, Shunsuke Nakamura and Jean-Joel Perrier-Doumbe

Financial Highlights

• Group revenue reduced by 3 % to £72.95 m (2007: £75.24m)
• Operating expenses increased by 8.1% to £ 64.09m (2007: £59.28m)
• Profit from trading before asset transactions and exceptional operating expenses of £8.86 m (2007: £15.95m)
• Exceptional operating expenses of £3.19m (2007: £2.88m)
• Gain on disposal of intangible assets of £5.70m (2007: £9.40m)
• Profit before taxation of £4.44m (2007: £15.04m)
• Year end bank debt of £3.52m (2007: £4.99m) net of cash
• Investment of £5.11m (2007: £14.44m) in the acquisition of intangible assets