Celtic can smile off the pitch with large revenue rise

Revenues have risen to €71.1 million (£61.2 million)

Celtic can smile off the pitch with large revenue rise

Picture by Andrew Milligan PA Wire/PA Images

Celtic have been having a good season on the pitch and significant progress is being made off it as well.

The Glasgow giants have almost doubled the revenues they reported back in 2015.

In a statement to the stock exchange, the club have revealed that their revenues have risen to €71.1 million (£61.2 million).

That's an increase of just shy of 95% from the 2015 figure.

Celtic confirmed that, "Revenue increased by 94.7% to £61.2m (2015: £31.4m)."

In a statement by the chairman, Ian Bankier said,"I am pleased to report on our interim results for the period ended 31 December 2016. These show revenue of £61.2m (2015: £31.4m) and a profit from trading of £21.4m (2015: £1.6m). Overall this resulted in a profit before taxation of £18.6m (2015: £11.7m) and a period end net cash at bank of £18.6m (2015: £7.7m)."

However, Bankier added that the second half of 2017 would not paint the exact same picture: "Looking forward, and entirely in line with our trading seasonality, we do not expect the same level of financial performance in the second half of 2017. In this period we will play fewer home fixtures and no European games. Our objective for the remainder of the year is to win the SPFL Premiership, secure the Scottish Cup and build towards the European qualifiers in the summer."

On the pitch, Celtic are shining in former Liverpool and Swansea manager Brendan Rodgers' debut season.

After 24 matches in this season's Scottish Premiership, Celtic are virtually assured of the league title as they sit an enormous 27 points clear of Aberdeen and Rangers who are second and third on 43 points apiece.

They have also broken an unbeaten league run record set by the legendary Lisbon Lions in the 1966-67 season.

With the Scottish League Cup already in their grasp, a domestic treble remains on the cards. 

Celtic also gave a good account of themselves in the Champions League group stages, despite finishing bottom of a group featuring Barcelona, Manchester City and Borussia Monchengladbach, with the sole exception of a 7-0 loss at the Nou Camp. They drew home and away with Manchester City.