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Celtic's profits soar to almost £10m after Champions League run

Updated: Monday, 23 Sep 2013 22:22 | Comments

Celtic have reached the group stages of the Champions League again this season
Celtic have reached the group stages of the Champions League again this season

Celtic made a pre-tax profit of almost £10million last season after a near 50% jump in revenue.

The Scottish champions have announced a profit before tax of £9.74million in the year to the end of June 2013.

Celtic, boosted by their run to the last 16 of the Champions League, brought in group revenue of £75.8million, up 48 per cent on the previous 12 months.

Operating expenses were up 15.2% while Celtic plc wiped out their bank debt.

The company had £3.76million in the bank at the end of the period following a bank debt of £2.77million 12 months earlier.

The importance of Champions League revenue of more than £20million was evident when compared to the previous year, when Celtic were in the Europa League and recorded a deficit of more than £7million.

The figures do not take account of the sale of Victor Wanyama, Gary Hooper and Kelvin Wilson in the summer, which brought in around £20million.

They do encompass the purchases of Virgil van Dijk and Amido Balde earlier in the summer.

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