Celtic made an £8.7million post-tax profit last season despite losing about £18million in revenue, according to the club’s financial results. Failure to qualify for the Champions League group stages hit Celtic’s income while operating costs including the wage bill were broadly similar. Group revenue for the year to June 30 fell to £83.4milllion while post-tax profits halved in relation to the previous season. Celtic made a surplus on transfer dealings, mainly due to the then record sale of Moussa Dembele to Lyon for almost £20milllion. Chief executive Peter Lawwell said in the club’s financial statement: “The level of competition in European football continues to intensify, increasing the uncertainty connected with qualification and progression within UEFA competitions.

Source: Express September 27, 2019 18:56 UTC