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Scottish champions Celtic have released their latest set of accounts which show an incredible increase of 47.7% in the group revenues. The club’s revenue rose to £75.82m thus giving them a profit of £9.74m.
“I am delighted to report that success on the field and, in particular, our European campaign has contributed to a very successful trading period. These annual results show that in the year to end June 2013, turnover increased by £24.48m to £75.82m, which, after operating expenses of £62.71m, produced an operating profit of £13.10m and retained profits after tax of £9.74m,” said Celtic chairman Ian Bankier.
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“Whilst the undoubted highlight of last season was qualifying from the group stages and playing in the last sixteen of the UEFA Champions League, it is crucial that we were able to win the Scottish Premier League title for the second time in a row and get another shot at Europe,” he added.
The rise in revenue is believed to be a direct result of the club’s improved performance in Europe last season and a new three-year shirt sponsorship contract with Magners Irish Cider.
