GLASGOW: Celtic take on Juventus in the Champions League second round buoyed by results off the pitch.

The Scottish champions have just announced a pre-tax profit of £14.94 million for the six months ending December 31, 2012, with the club’s accounts boosted by a 71pc increase in turnover aided by their European exploits.

Celtic recorded a £180,000 profit for the same period 12 months ago, but Champions League revenues have resulted in its turnover rising from £29.27m  to £50.06m.

This has also had a positive effect on the club’s bank debt, which stood at just £130,000 on December 31 – down from £7.05m 12 months previously, according to the club’s interim report.

“Celtic surpassed the expectations of many by progressing into the (Champions League’s) knockout stages from a very tough group,” said Celtic chairman Ian Bankier. “Furthermore, the club’s international reputation and standing received a substantial boost. This success had a major bearing on our financial performance in the period under review.”

Bankier added: “The revenues generated by the team’s success in Europe this year have significantly impacted our half year results, with turnover increasing to £50.06m, a 71pc improvement over the previous year.

“Celtic’s achievements, both domestically and in Europe, have had a similarly positive effect on merchandise and ticketing income, notwithstanding the current difficult economic climate.”

Soccerex Business Daily
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Tuesday, February 12, 2013

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