Celtic announce huge half-year profit despite missing out on Champions League riches The record sale of Moussa Dembele has softened the blow of missing out on the lucrative group stage. Celtic have posted a hefty half-year profit despite missing out on the lucrative Champions League cash pot. The Scottish Premiership champions have released their six-monthly interim report that includes to the end of December 2018. Revenue has fallen to £50million, down from the £71.5m recorded in 2017 after they were unable to reach the group stage. However, Celtic have still managed to record a massive £18.8m pre-tax profit over the past six months. The loss of Champions League revenue has been softened by a £17.6m profit from transfers that includes a club record fee received from Lyon for Moussa Dembele. The Ligue 1 giants paid a single figure of £19.8m for the striker in August 2018. Chairman Ian Bankier acknowledged the revenue dip from being unable to dine at Europe's top table this term but still described the results as "highly satisfactory". He said: "These results reflect the absence of substantial UEFA Champions League revenues in comparison to the same period last year. But they are counter-balanced by the benefit of player trading, significantly by the permanent transfer of the registration of Moussa Dembele to Olympique Lyonnais. "The profit on disposals of intangible assets of £17.6m (2017: £0.5m) largely represents this sale. Our period end net cash at bank, as indicated above, was highly satisfactory. "We also enjoyed exceptionally strong trading across all of our commercial bases, including match day sales, hospitality and merchandise."