Celtic announce £6.1m profit as club boosted by player trading model and end of fan lockout

Celtic have announced a pre-tax profit of £6.1million for the financial year, with an increase in player sales and the end of Covid-19 pandemic restrictions playing a key role.

It was a brilliant 12-month period for Ange Postecoglou's side as they reclaimed the Scottish Premiership title from rivals Rangers, and gained automatic qualification for the Champions League group stage, which was replicated off the pitch as revenue increased by massive 45.2 per cent by more than £20m (from £60.8m to £88.2m). Money from transfers was up from previous seasons with the sales of Kris Ajer, Ryan Christie and Odsonne Edouard included in the financials results, taken from June 30, 2021 to June 30, 2022.

This saw £29m gained on player registrations, an increase of £9.4m last year. There was also a jump in spending as the club revamped the squad with the permanent additions of Kyogo Furuhashi, Giorgios Giakaoumakis, Reo Hatate, Jota and Cameron Carter-Vickers among a number of big name additions in the last three windows.

Acquisition of player registrations stands at £38.4m up from £13.5m in the previous financial period. It all adds up at a profit before taxation of £6.1m, whereas in 2021 the club reported a £11.5m loss and Celtic chairman Iain Bankier insists the champions are in a good place.

These results for the year ended 30 June 2022 show that revenue increased to £88.2m (2021: £60.8m) with a corresponding profit before tax of £6.1m (2021: £11.5 loss before tax). The key driver of the revenue growth was the restoration of a more normalised trading environment as we emerged from Covid-19 and were able to operate at full stadium capacity for all but five matches at the beginning of the season, where crowd restrictions