Celtic announce they have a staggering £67m in the bank and reveal £32m profits as revenue rockets to £82m

Celtic have an eye-watering £67million in the bank after making a huge profit of £32m before tax in their interim PLC report for the six months to December 2023.

The Scottish Premiership champions made their way back into the Champions League group stage and even though they didn't qualify for the knockout phases, their financial gains at this stage have been reflected in their annual accounts. Revenue is up nearly £9m, from £76.5m last year to £85.2m.

Chairman Peter Lawwell admitted it was important to invest cash reserves into the first team playing squad, although he and fellow board members have come under fire following recent transfer windows for a perceived lack of spending by fans. Lawwell acknowledged punters' frustrations, conceding that the club had expected to do more transfer business that they did. He said: "The board recognises the inherent inefficiencies of holding excess cash, and, in conjunction with other cash commitments, the importance of investing in strengthening the team to deliver football success. The board shares the frustrations of the supporters regarding the less than anticipated activity in the recent transfer window."

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