Celtic earn £53m as financial results show huge profits

Celtic’s revenue has increased to £53m as the last six months seen the Scottish champions make more than £24m profit.

The impressive results from July to December 2019 come despite the club failing to reach the Champions League for the second season in concession.

However the £25m sale of left back Kieran Tierney to Arsenal helped soften the blow of their elimination to FC Cluj in the qualifying rounds.

The loss seen Neil Lennon’s drop into the Europa League where they have impressed by finishing top of their group and recording home and away wins over Serie A side Lazio.

Going for their ninth league championship in a row Celtic currently sit top of the Premiership and lifted the only available trophy of the season so far with a 1-0 League Cup final win over Rangers.

The win was their tenth consecutive domestic trophy in a row and they remain on course for a historic fourth treble in a row.

As the financial results were released on Friday chairman Ian Bankier said: “I am pleased to report another strong set of interim results, for the six months ending on December 31 2019.

“These show revenues of £53.3m and a profit before taxation of £24.4m that included a profit from trading of £7.1m.

“Period end net cash at bank was £32.9m.

“Whilst the financial results were absent of the enhanced income associated with Champions League Football for a second year, the overall financial performance improved.

“In addition to significant gains from player sales, the underlying trading remained buoyant through revenues from commercial arrangements, match day sales, hospitality and merchandising.”