Celtic have released their financial interim report for the first half of the season – showing a profit of £44 million, despite a slight drop in revenue.
The club’s chairman, Peter Lawwell, issued a statement explaining the numbers for the six months up to December 31, 2024, as published on their website - citing transfers, player wages and investment on infrastructure as some of the reasons behind the dip in profits.
According to the report, Celtic’s total revenue stood at £83.5 million – 2.1% down on last year’s total of £85.2 million. The club's profit before tax was £43.9 million.
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The former chief executive addressed the reduction in profits for this period in the report. Lawwell said: “The key drivers of this were the significant transfer spend incurred in the period, where we exceeded our record transfer spend twice, and the investment into the first team playing squad wage costs, and our continued investment into infrastructure including our Barrowfield development, Lennoxtown and Celtic Park.”
In the report, Lawwell also confirmed the imminent return of left-back Kieran Tierney. When addressing player registrations such as Jota’s return to the club and Kasper Schmeichel’s contract extension, Lawwell said that Celtic “…entered into a pre contract agreement that will see Kieran Tierney return to Celtic in July 2025.”
Celtic’s chairman expressed disappointment about the club’s lack of January transfer activity aside from Jota and Jeffrey Schlupp, although he praised the business done in last year's window.
He said: “We invested significantly in the summer transfer window and while we aimed to do more in the recent window, we go into the remainder of the season from a strong position and with confidence.”
He continued: “I wish to extend our gratitude and appreciation to our supporters for the backing of our Club on behalf of the Board. Thanks also must go to our employees, shareholders and commercial partners for their continued support.”
