So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the Hoops’ interim report for the second half of 2021.
The Glasgow giants posted a pre-tax profit of £27.6million in the document released to the public last Saturday (21 February).
Kristoffer Ajer, Odsonne Edouard, Ryan Christie, Vakoun Bayo and Jack Hendry all boosted the club’s coffers with their summer exits.
The accounts show a £7m surplus from player trading after the Hoops spent approximately £20m on new recruits over the same period.
The headline £27.6m profit figure is positive but should be taken with a pinch of salt given the club’s summer activity, warns Plumley.
“Most of it is transfer sales,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“A degree of caution is needed for the headline profit figure. They are only for six months and most revenue is generated in that six months.
“You have got season ticket sales, summer transfers, Uefa money. So it’s no surprise to see that they expect to run at a loss for the next six months.
“It is an excellent figure, however. But you do have to look at it in the context of those player sales, for sure.”
Total revenue for the six months ending 31 December was £52.9m.
Chairman Ian Bankier revealed that Celtic anticipate that they will end the financial year with “revenues ahead of previous expectations.”
This article was originally posted here