CELTIC have told their shareholders to expect ‘significantly higher’ revenue figures than initially expected for the season just past.
It was revealed last month that Celtic‘s shares had been trading at their highest price for more than TWENTY years this summer, with values soaring close to the 200p mark for the first time since 2000.
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The Parkhead club are well-renowned for their extremely successful business model which has made them one of the world’s best financially ran clubs in recent years.
Back in February, we told you how Brendan Rodgers‘ men had made their way into Europe‘s top 10 most profitable clubs following a year of bumper profits.
They made a whopping £40.3m during that period, putting them alongside European giants such as Bayern Munich, Ajax and Red Bull Salzburg.
And while their latest annual report showed that cash reserves have dropped slightly, they’ve currently still got a around £70MILLION in the bank.
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Now they have primed the London Stock Exchange for further thriving accounts with their latest statement – one month before the full results will be released.
In a statement to the LSE, they stated: “Celtic has enjoyed a strong on pitch performance in the 2023/24 football season having won the domestic double.
“In addition, it has enjoyed a successful year in generating gains from player trading.
“As a result of such gains and a strong end to the season from a footballing perspective, Celtic now expects earnings for the year ended 30 June 2024 will be significantly higher than previous expectations, which were formed before the conclusion of the season and prior to certain player disposals.
“Player registration valuations and player trading can and often do materially influence Celtic’s financial performance in addition to trading revenue.
“The Summer transfer window is underway and following the closure of the window and the finalisation of the year end balance sheet review, the Club will then be in a position to confirm the extent of its earnings by publishing its results for the year ended 30 June 2024, in line with its usual timetable in mid-September 2024.”
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