Celtic plc Interim Report 2012

Welcome to Kerrydale Street. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use.

If you decide to register, please be aware that we don't accept email addresses from free web accounts like gmail, Hotmail, live.co.uk etc. Sorry, but almost all of the abuse and spam that we get is from free web accounts. The software on the forum will automatically block any requests using a free email account.

Upon Registration, you will be given access to all our varied Forums, and you will be expected to comply with our fairly stringent Rules and Regulations. Meantime, enjoy your visit

If you're already a member please log in to your account to access all of our features:

Pages:
1
2
…
13

Celtic plc Interim Report 2012
Topic Started: 11 Feb 2013, 04:32 PM (18,464 Views)
A N Other	11 Feb 2013, 04:32 PM Post #1
I'm Spartacus Posts: 14,614 Group: Snr. Member Member #23,125 Joined: 9 March 2009	CELTIC plc have released the Interim Report for the six months to December 31, 2012. Operational Highlights • Progression to last 16 of the European Champions League. • Currently top in the Clydesdale Bank Premier League. • Continued participation in the Scottish Cup. • Announcement of new shirt sponsorship deal with Magners commencing 1 July 2013. Financial Highlights • Turnover increased by 71.0% to Ł50.06m (2011: Ł29.27m). • Operating expenses increased by 30.2% to Ł36.96m (2011: Ł28.39m). • Profit from trading of Ł13.10m (2011: Ł0.88m). • Profit on disposal of intangible assets Ł5.20m (2011: Ł3.15m). • Profit before taxation of Ł14.94m (2011:Ł0.18m). • Period end net bank debt of Ł0.13m (2011: Ł7.05m). • Investment in football personnel of Ł4.65m (2011: Ł4.44m). • 19 home fixtures (2011: 16). CHAIRMAN’S STATEMENT I am pleased to report on our financial results for the six months ended 31 December 2012. The introductory page to these interim results summarises the main highlights. On the pitch it has been a memorable and highly successful period. We started the new season as Scottish Premier League Champions and, since then, we have enjoyed impressive results. At the time of writing, we have a healthy lead in the race to retain our Premier League title and we remain in the Scottish FA Cup. Of greater significance, though, has been the achievement of qualifying for the last 16 of the UEFA Champions League, the undoubted highlight being our victory over Barcelona at Celtic Park in November. Celtic surpassed the expectations of many by progressing into the competition’s knockout stages from a very tough group. Furthermore, the club’s international reputation and standing received a substantial boost. This success had a major bearing on our financial performance in the period under review. The revenues generated by the team’s success in Europe this year have significantly impacted our half year results, with turnover increasing to Ł50.06m, a 71% improvement over the previous year. Celtic’s achievements, both domestically and in Europe, have had a similarly positive effect on merchandise and ticketing income, notwithstanding the current difficult economic climate. The results on the park and additional matches produced an increase in operating expenses to Ł36.96m and our profit from trading, before asset transactions and exceptional operating expenses, was Ł14.94m - a significant uplift on last year’s figure of Ł0.18m for the same period. As in previous years, we continue to make investments in the playing squad and support services. The management of the playing squad is an important aspect of our business model. In the period under review we invested Ł4.65m in strengthening the first team squad, and added to this in the January transfer window. We have a talented first-team pool, with a strong emphasis on youth. Our scouting and player identification processes continue to bear fruit, and our investment in state of the art medical and sport science facilities at Lennoxtown has contributed to optimising performance. Similarly, the ongoing strategy of investing in our Academy is yielding its own benefits as we remain committed to finding, coaching and developing Champions League quality players. Such investment and player development initiatives have further enhanced profitability, with a profit from transfer activity of Ł5.2m, largely as a consequence of the sale of Ki Sung Yueng to Swansea, in comparison to Ł3.15m last year. Nevertheless, we have managed to strike a prudent balance between trading successful, valuable assets and retaining key talent to enhance our prospects of football success. Our financial strength meant that we were able to retain all our key players through the January transfer window and further enhanced our squad with the signing of Rami Gershon, Tomas Rogic and Viktor Noring. The improvement in trading has impacted on our period end net bank debt, which stood at Ł0.13m, nearly Ł7m less than at the same point last year, well within the Company’s facilities. Our success on the park and the maintenance of our robust business model has provided stability in a challenging environment. The second half of the 2012/13 financial year is expected to follow a similar trading pattern to recent years, but buoyed by onfield success including participation in the UEFA Champions League. Scottish Football has recently endorsed proposals to restructure our domestic league system, with the aim of generating additional interest and revenue for the benefit of fans and member clubs alike. Celtic has been happy to support initiatives it sees as being in the best interests of the Club and of the Scottish game in general. Off the field, the Club marked its 125th Anniversary in November with a celebratory event held at St Mary’s Church in Glasgow’s Calton where the inaugural meetings that led to the Club’s formation occurred in 1887. In addition, the Celtic Charity Foundation launched an associated fund raising campaign aimed at increasing donations raised for worthy causes. In conclusion, I would wish to pay tribute to Neil Lennon and his backroom staff, all of the players and all of the Directors, management and staff at the Club who work tirelessly to maintain the standards for which Celtic is rightly renowned. And finally, I would like to thank the fans, who have continued to show their unswerving support at a particularly turbulent but exciting time in our history. Ian P Bankier Chairman February 11, 2013 Full report (pdf)



remy mcswain	11 Feb 2013, 04:33 PM Post #2
Not long now Posts: 45,046 Group: Snr. Member Member #74 Joined: 1 September 2004 Favourite all-time player Celticsean	Armageddon



Joseph D. Pistone	11 Feb 2013, 04:34 PM Post #3
Occasional Substitute Posts: 654 Group: Members Member #29,350 Joined: 30 August 2011	Well doesn't that make for some pleasant reading.



Flawless	11 Feb 2013, 04:36 PM Post #4
Gary Hooper's Barber Posts: 13,432 Group: Snr. Member Member #2,762 Joined: 16 January 2006	Sweet as a nut.



ronan cfc	11 Feb 2013, 04:36 PM Post #5
Everyone's Fantasy Football first pick Posts: 2,313 Group: Members Member #29,567 Joined: 21 September 2011 Favourite all-time player larsson	remy mcswain 11 Feb 2013, 04:33 PM Armageddon * Armagedhun Things are good at Celtic right now.



A N Other	11 Feb 2013, 04:36 PM Post #6
I'm Spartacus Posts: 14,614 Group: Snr. Member Member #23,125 Joined: 9 March 2009	remy mcswain 11 Feb 2013, 04:33 PM Armageddon Just not for us... or any established Scottish clubs.



33-rpm	11 Feb 2013, 04:36 PM Post #7
Still we sing with our heroes, thirty-three-rounds-per-minute Posts: 18,712 Group: Snr. Member Member #4,339 Joined: 29 July 2006	The one thing clear to me from those figures is that we're struggling without Rangers.



tinsoldier	11 Feb 2013, 04:36 PM Post #8
Older than dirt Posts: 23,527 Group: Snr. Member Member #480 Joined: 13 January 2005 Favourite all-time player Paul Lambert Twitter Name @tinsoldier2	We still need a strong Rangers



Forza	11 Feb 2013, 04:37 PM Post #9
Club Captain Posts: 3,111 Group: Snr. Member Member #23,749 Joined: 5 June 2009 Favourite all-time player Henrik Twitter Name @ForzaKDS	There's yer dinner. What brilliant reading.



gangofgin88	11 Feb 2013, 04:37 PM Post #10
First name on the team-sheet Posts: 1,536 Group: Members Member #22,928 Joined: 3 February 2009	For the types who have more than the tiny financial knowledge that I have: is this as good as it looks?



TheCelticSurfer	11 Feb 2013, 04:38 PM Post #11
Fast becoming a legned Posts: 887 Group: Members Member #28,072 Joined: 3 March 2011	No old firm? It'll never catch on



superjoeledley	11 Feb 2013, 04:38 PM Post #12
Valentines day will forever be known as admin day and the beginning of the end game. Posts: 11,126 Group: Snr. Member Member #29,987 Joined: 6 December 2011 Favourite all-time player Petrov	Timmys poor



SaMule	11 Feb 2013, 04:39 PM Post #13
Singer of illicit songs Posts: 8,511 Group: Snr. Member Member #4,033 Joined: 14 June 2006	Making all that money and having hardly any debt is all well and good, but where are the world records eh? Bankier GTF



Groves	11 Feb 2013, 04:39 PM Post #14
Club Captain Posts: 3,757 Group: Snr. Member Member #26,694 Joined: 11 August 2010	Outstanding figures.



wee_chorley	11 Feb 2013, 04:40 PM Post #15
Come On ! Posts: 2,571 Group: Snr. Member Member #7,150 Joined: 27 February 2007 Favourite all-time player I can't think of a player who has 100 letters in his name, so HENRIK



A N Other	11 Feb 2013, 04:40 PM Post #16
I'm Spartacus Posts: 14,614 Group: Snr. Member Member #23,125 Joined: 9 March 2009	gangofgin88 11 Feb 2013, 04:37 PM For the types who have more than the tiny financial knowledge that I have: is this as good as it looks? Better. We're flying high just now, while remaining comfortably within our budget and means. We have no need to try and hang on the coattails of any club, and the figures there in black and white prove it.



RPMcMurphy	11 Feb 2013, 04:40 PM Post #17
This train will stop at Tucumcari Posts: 1,380 Group: Members Member #21,811 Joined: 19 September 2008 Favourite all-time player Ben Leiper	Take that Chuck



williebhoy	11 Feb 2013, 04:41 PM Post #18
Getting on a bit Posts: 4,520 Group: Snr. Member Member #1,440 Joined: 3 July 2005	Ł 0.13m in DEBT......not as good as some apparently If you don't count the external debt or the invoices not agreed or...................



ujio	11 Feb 2013, 04:41 PM Post #19
Older than dirt Posts: 32,006 Group: Snr. Member Member #1,715 Joined: 28 July 2005	Positive reading as expected. It's mainly all down to champions league participation. The outlook might be slightly more gloomy without the champions league but the reality is it's not gloomy. It's great. When everything aligns as it has this season our business model is impeccable.



pauliebhoy	11 Feb 2013, 04:41 PM Post #20
Flamin Mongrels Posts: 6,909 Group: Snr. Member Member #10,526 Joined: 5 September 2007 Favourite all-time player Luke Kelly	If only Rangers were still around we would have no debt



1 user reading this topic (1 Guest and 0 Anonymous)


Go to Next Page
« Previous Topic · Celtic Football Club Discussion Forum · Next Topic »

Pages:
1
2
…
13