Celtic report improved results
Celtic have reported improved results for the six months to 31 December. Turnover was up 3.1 per cent to £29.3m. Particularly encouraging was the reduction in bank debt by £2m to just over £7m.
A pre-tax profit of £180,000 was recorded. Any profit in current circumstances is worthwhile, although this figure is down from £7m in the same period of 2010.. The restoration of the club to the Europa League competition boosted turnover by just under £1m.
Celtic chief executive Peter Lawwell has insisted that the prospect of rivals Rangers going into administration 'or worse' would have no financial impact on Celtic.