Celtic accounts: Rarely-witnessed profit swing revealed, reasons for figures laid bare, full statement from Ian Bankier

Celtic’s return to rude financial health has been laid bare by interim trading results for the six months up until December 31, 2021, with a rarely-matched profit swing of £33.5million due to the return of crowds and player sales.

In an update posted on their website, the current cinch Premiership leaders revealed that their profit before taxation was £27.6m, in contrast to the loss of £5.9m at the corresponding juncture a year ago, while their revenue had increased by 29.9 per cent to £52.9m, up from £40.7m.

Much of that cash was raised by the sale of players such as Odsonne Edouard to Crystal Palace, Kristoffer Ajer to Brentford and Ryan Christie to Bournemouth.

The club revealed that it has just over £25m in the bank and profit from trading was at £7m. The club explained that the contrast in financial fortunes was largely down to the return of normal attendance levels and matchday revenue, a prolonged European campaign and the ability to cash in on key assets.

A statement from chairman Iain Bankier read: “The results for the six months ended 31 December 2021 show revenues of £52.9m (2020: £40.7m) and a profit before taxation of £27.6m (2020: loss before tax of £5.9m). The profit from trading, representing the profit excluding player related gains and charges, amounted to £7.0m (2020: loss of £0.3m). Period end net cash at bank was £25.6m (2020: £19.7m). The introductory page to these interim results summarises the key events in the period.

"The major factors driving the much improved financial performance for the period under review were: first, the return of fans to the stadium driving crucial match day income; second, our qualification for another season in the Europa League with the accompanying ticket sales that