http://www.celticfc.net/newsstory?item=5398http://www.celticfc.net/downloads/Celtic_plc_Interim_Report_2013.pdfCeltic plc Interim Report 2013
CELTIC plc have released the interim report for the six months to December 31, 2013.
Operational Highlights
• Progression to group stages of the Champions League.
• Currently unbeaten in the SPFL Premiership and top of the league.
• Breaking long standing record for number of consecutive clean sheets.
• Academy continues to be successful; over 70 internationalists at Under 21 level and below.
• Multi-million pound investment in the area around Celtic Park, benefiting supporters and the local community.
• Launch of the Kerrydale Bar, Café 1888 and new family stand.
• Installation of a full stadium Wi-Fi network with accompanying matchday application.
Financial Highlights
• Revenue decreased by 11% to £44.8m (2012: £50.1m).
• Operating expenses decreased by 7% to £34.3m (2012: £37.0m).
• Profit from trading before asset transaction and exceptional operating expenses of £10.5m (2012: £13.1m).
• Exceptional costs of £2.3m (2012: nil).
• Profit on disposal of intangible assets £16.5m (2012: £5.2m).
• Profit before taxation of £21.3m (2012:£ 14.9m).
• Period end net cash at bank of £5.7m (2012: £0.1m net bank debt).
• Investment in football personnel of £5.0m (2012: £4.7m).
• 16 home fixtures (2012: 19).
CHAIRMAN’S STATEMENT
I am pleased to report on our financial results for the six months ended 31 December 2013. The introductory page to these interim results summarises the main highlights.
We have enjoyed another highly successful period on the football pitch. As we report today, we are comfortably at the top of the SPFL Premiership, having enjoyed an excellent run of results in the league, remaining unbeaten and having broken a long standing record for the number of consecutive clean sheets.
Having won the Scottish Premier League title in season 2012/13, we qualified once again for the group stages of the UEFA Champions League. Our reputation as a leading club in European football has been enhanced by that success. These results reflect the financial benefit of participation in the group stages of the Champions League for a second year in a row, coupled with successful management of the playing squad.
Revenue dropped for the period to £44.8m (2012: £50.1m). The decrease compared to last year’s results at this stage largely reflects the impact of our decision to make the £100 reward for adult season ticket packages, together with playing three fewer home matches in the period and accumulating fewer points in the Champions League group stages, resulting in reduced UEFA distributions.
Operating expenses for the period decreased by 7% to £34.3m, leading to a profit from trading, before asset transactions and exceptional operating expenses of £10.5m (2012: £13.1m). Exceptional operating expenses in the period of £2.3m relate to an impairment charge.
Prudent investment in, and management of, our playing squad is a key component of the club’s strategy. In line with that strategy, we continued to invest in the playing squad, with £5.0m invested, an increase from last year (2012: £4.7m). Our profit on disposal of intangible assets of £16.5m, in comparison to a profit of £5.2m last year, largely reflects the transfers of Gary Hooper, Victor Wanyama and Kelvin Wilson. Together with ongoing investment in our Academy, the identification and creation of Champions League quality players remains fundamental to Celtic. Following the end of the period, during the 2014 January transfer window, further investment was made, securing the signing of the highly rated players Holmbert Fridjonsson, Stefan Johansen and Leigh Griffiths.
As at 31st December 2013, net cash at bank was £5.7m. Our profit before taxation for the half year was £21.3m, an increase of over 40% on the same period last year.
There is little doubt that this is a robust set of interim results and they reflect a club that is in excellent financial health.
The strategy of the Board is unchanged; our overwhelming priority is to win the SPFL Premiership and to qualify for the group stages of the UEFA Champions League and beyond; we seek to give our manager the best tools for the job, within the constraints of our economic environment; we aim to create value by investing in our youth academy and by acquiring players that we can develop; and in terms of the finances we seek to live within our means. All of this helps us prepare for the future and the economic uncertainties, which have had such a devastating effect on many other football clubs.
Our Chief Executive, Peter Lawwell, is serving as a Director of the Scottish FA, while our Financial Director, Eric Riley, serves as a Director of the Scottish Professional Football League. The structural and financial difficulties that face Scottish football are well documented and it is fair to say that the outlook for the game is challenging. I am gratified that Peter and Eric can make a contribution to overcoming the obstacles that lie ahead.
Looking forward to the second half, as with previous years, trading performance in the remaining months of this financial year will not be at the same level as that in the first six months (or the comparable period in 2013), with fewer home matches scheduled, no Champions League participation and lower gain on player sales.
A key focus for the year will be our continued investment in Celtic Park, not only for our own supporters’ experience on match days, but also for the benefit of the wider community. In January we opened a dedicated facility for disabled supporters and, throughout the year, we look forward to delivering further projects, including development of our Wi-Fi system, safe standing areas and the new landscaped and public realm area to the front of Celtic Park. In addition, we will continue to support Celtic FC Foundation in its very important charitable work, which provides assistance in key priority areas of health, equality, learning and poverty.
This has been another very active spell for the club and my profound thanks and appreciation go to Neil Lennon and his backroom staff, all of the players, executive management and staff, who are committed to ensuring that Celtic is a world class football club. Most importantly, I pay tribute to the fans, whose support, encouragement and dedication is second to none.
Ian P Bankier
Chairman
7 February 2014
von netzer14 » Do 18. Apr 2013, 21:16 
MARTIN O'NEILL - LEGEND 
