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Celtic's interim financial results for the six months to December 2007 show them to be in robust financial health. Qualifying for the last 16 of the Champions League for the second successive season helped to give the club an operating profit of almost £10 million on turnover of just over £42 million. Perhaps more significantly, the club's debt continues to fall. It now stands at a comfortably managed £6.81 million, compared to £15.02 million for the same period a year earlier. While both the profit and turnover figures are down year on year, from almost £15m and £47m respectively, this is due to factors largely outside Celtic's control. They played two fewer games in the most recent six month period, a loss of about £2.5m in revenue, and had to share the Champions League group stage market pool revenue of £4.5m with fellow Scottish qualifiers Rangers. Last season, Celtic banked the lot when Hearts where knocked out in the qualifying rounds. Celtic will continue to try to strengthen their brand name in what they sees as receptive markets such as Japan and the United States. The period featured in the latest accounts encompasses the opening of Celtic's £8m training complex and youth academy at Lennoxtown, an important element in its plans for future success.
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