Celtic announce a return to profit as annual figures are released

After posting a loss of around £4million between July 2014 to June 2015, Celtic have announced that they made a profit in the 12 months between July 2015 and June 2016.

As reported by the BBC, the Scottish champions ended up £500,000 in the black, thanks mainly to the £12.6million they made from player sales, a figure boosted after Virgil van Dijk was sold to Southampton.

The loss on operations rose from £2.2million to £5.1million, this was because the cost of football and stadium operations went up but £3million, whilst match day income fell by £2.9million.

Chairman Ian Bankier commented on the release of the figures and explained that not qualifying for the Group Stages of UEFA Champions League meant that the club needed to use player sales to generate income, but that won’t be the case this year as Brendan Rodgers’ men are guaranteed six Champions League games after successfully making through the qualification rounds.