![\"Celtic](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/02\/Celtic-park-new-pic.png\")
Celtic\u2019s failure to reach the group stages of the Champions League last season has seen the club post a pre-tax loss of \u00a36.6 million compared to a \u00a345.7m profit in the previous year.<\/p>\n
The financial results for the year end 30 June showed revenue of \u00a3111m, a drop of 22.7%, while operating expenses were \u00a3122.1m, a rise of 4.3%.<\/p>\n
Cash in bank was \u00a366.4m, down from \u00a377.3m in the previous 12 months.<\/p>\n
There was a gain on the sale of player registrations of \u00a316m (\u00a331.5m).<\/p>\n
It was a turbulent year for the Parkhead outfit, with three different managers, and another league title clinched on the final day of the season.<\/p>\n
Interim chairman Brian Wilson said: \u201cThe events of the past 12 months have been dramatic, sometimes joyful and at other points deeply frustrating.<\/p>\n
\u201cThe departure of Brendan Rodgers was an unanticipated event which initiated a period of instability. In other circumstances, the appointment of Wilfried Nancy might have worked but his arrival in mid-season and the changes which followed clearly did not.<\/p>\n
\u201cParting ways with Wilfried was hugely disappointing but decisive action had to be taken. The return of the great Martin O\u2019Neill, supported by his backroom team as well as a fine squad of players, then proved to be a triumphant success.\u201d<\/p>\n
He added: \u201cRevenue decreased to \u00a3111.0m (\u00a3143.6m) primarily as a result of dropping into the Europa League as compared to the Champions League in the prior year.<\/p>\n
\u201cAs well as directly impacting UEFA distributions, this also had a knock-on effect on other parts of the club including ticketing income and retail.<\/p>\n
\u201cThe loss after tax amounted to \u00a34.8m (\u00a333.9m profit). This was driven by a combination of revenue decline, an increase in operating expenses primarily through wages and salaries, a reduction in gains from player trading to \u00a316.0m (\u00a331.5m) and an increase in amortisation to \u00a315.4m from \u00a313.8m in 2025.<\/p>\n
\u201cYear-end cash decreased by \u00a310.9m to \u00a366.4m (\u00a377.3m) mainly due to cash consumption at the operating level coupled with net investment in players and capital items in the year.\u201d<\/p>\n
The chairman also confirmed Celtic spent \u00a331.6m this summer on the signings of Kasper Hogh, Camilo Duran, Mika Baur, Haissem Hassan, Joel van den Berg and Jordan Lotomba, while Landon Emenalo, Shumaira Mheuka, Sam Johnstone and Oliver Sorensen all arrived on loan.<\/p>\n
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