Glasgow Celtic Supporters Thread
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noelyf
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Celtic plc Interim results
13 Feb, 2012
CELTIC plc have released the interim results for the six months to December 31, 2011.
Key Events/Highlights
• Turnover increased by 3.1% to £29.27m.
• Operating expenses increased by 3.3% to £28.39m.
• Profit from trading of £0.88 (2010: £0.92m).
• Profit on disposal of intangible assets £3.15m (2010: £13.20m).
• Profit before taxation of £0.18m (2010:£7.06m)
• Period end bank debt of £7.05m (2010: £9.09m).
• Investment in football personnel of £4.44m (2010: £9.00m).
• 16 home fixtures (2010: 15).
• Currently first in the Clydesdale Bank Premier League
• Continued participation in both domestic Cup competitions.
CHAIRMAN´S STATEMENT
I am pleased to report on our financial results for the period of six months which ended on 31 December 2011. The key highlights are set out in summary form on the introductory page.
On the park, the momentum that was lost at the start of this football season has been more than recovered. At the date of today’s report we have a lead in the SPL, which we look to carry through to the end of the season. Our entry into this season’s UEFA Europa League Group stages was unorthodox, involving several visits to UEFA and eventually the Court of Arbitration for Sport. We were successful in our claims and the team also showed that we deserved to be involved, performing well against top European opposition in a difficult group.
European participation contributed to our turnover for the half-year, which increased slightly (3.1%) over the previous year, by £0.88m to £29.27m. This increase offset reduced revenues from pre-season tours and merchandising. Both are areas where the marketplace domestically and internationally remains very challenging. Like many with a presence in the high street, we continue to see difficult conditions driven by a squeeze on household incomes.
Operating expenses also rose slightly, to £28.39m (3.3%), in line with the increase in turnover, with our profit from trading before asset transactions and exceptional operating expenses at £0.88m (2010: £0.91m) virtually unchanged. The second half of the financial year is expected to follow a similar trading pattern to that experienced in previous years. Our period end bank debt of £7.05m is around £2.0m less than at the same time last year, and remains manageable, and well within the Club’s facilities.
At this time last year we reported a profit from player transfer activity of £13.20m. This year, the comparable figure is considerably less, at £3.15m. The key dynamic driving these interim results and our financial performance for the remainder of this financial year is our player investment and transfer strategy. We invested £4.44m in the first half of the year and have followed this with further acquisitions in the most recent January registration window.
We can confidently say that the strength and depth of the player pool now available to the Football Manager is better than it has been for several seasons. This has been a conscious decision that the financial discipline of the past has allowed us to take. As a result, we have been able to enjoy the virtuous trilogy of being able to keep our best players, build and develop significant value in our player pool, and see improvements in football performance.
Although we have a clear short-term focus for this season, we have not forgotten our future; it is very encouraging to see our youth players holding their own in the Next Generation tournament, the rising presence in the first team of talented young professionals identified through our scouting system and Youth Academy, and increases in the numbers of families and children coming to watch them.
Finally, it would be remiss of me not to pay tribute in this statement to our Football Manager, Neil Lennon. In the early part of this season he faced an uncharacteristic run of poor results in a calm, professional and resolute manner, and with unshakeable self-belief he has put us in a strong position to challenge for all three domestic trophies.
The bond between this Club and its supporters has seldom been stronger and as we move into the remainder of the football season, there is much to look forward to.
Ian P Bankier
Chairman
February 13, 2012
To read the Interim Report, click HERE
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noelyf
VIP Member
"I can still close my eyes and see our fans in that stadium down in Manchester and that will live with me until my dying day. "It was incredible support for the team and we have had that over our 140 years.
"I'm biased but I make no apology for that, I believe we have the best fans in the world <<< lol and I think that will show in the next few weeks."
Fat Sally McCoist (Yesterday)
You forgot to mention they smashed up Manchester city centre after the match you pie munching pr*ck!!
"I'm biased but I make no apology for that, I believe we have the best fans in the world <<< lol and I think that will show in the next few weeks."
Fat Sally McCoist (Yesterday)
You forgot to mention they smashed up Manchester city centre after the match you pie munching pr*ck!!
noelyf
VIP Member
Ice Cream van passes by Ibrox Stadium on the day Rangers announce Administration procedures.
[video=youtube;aSLGqESxoyA]http://www.youtube.com/watch?v=aSLGqESxoyA&feature=related[/video]
As news of Rangers FC's administration is broken on Radio Clyde, drivers pull off the M8 for a spontaneous party...
[video=youtube;GKMiCq3z5mM]http://www.youtube.com/watch?v=GKMiCq3z5mM&feature=related[/video]
This was made back in December when we beat the huns 1-0 :)
[video=youtube;hijQsXhpHqU]http://www.youtube.com/watch?v=hijQsXhpHqU&feature=related[/video]
[video=youtube;aSLGqESxoyA]http://www.youtube.com/watch?v=aSLGqESxoyA&feature=related[/video]
As news of Rangers FC's administration is broken on Radio Clyde, drivers pull off the M8 for a spontaneous party...
[video=youtube;GKMiCq3z5mM]http://www.youtube.com/watch?v=GKMiCq3z5mM&feature=related[/video]
This was made back in December when we beat the huns 1-0 :)
[video=youtube;hijQsXhpHqU]http://www.youtube.com/watch?v=hijQsXhpHqU&feature=related[/video]
Last edited:
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