The Club continues in its support of the work of the Football
Safety Officers Association Scotland and recognises the importance
of spreading best practice in spectator safety management across
Scottish Football.
FACILITIES
The Facilities Department have once again worked to a high
standard to ensure our supporters' expectations are met. Work has
continued to improve infrastructure at Celtic Park, Lennoxtown and
Barrowfield. The department continues to strive towards reducing
the company's Carbon Footprint.
In the face of adverse weather conditions, our ground staff
managed to maintain a high calibre playing surface with
commendation from UEFA officials for its admirable condition. The
pitch has been well maintained by the ground staff throughout the
season, having held over fifty events from Champions League matches
to successful Sponsor/Charity games.
Our facilities are widely recognised across European football as
top class and we will continue to invest to maintain this
reputation.
CATERING AND HOSPITALITY
Celtic Hospitality performed to the highest standard,
contributing significant revenues and receiving very positive
customer recognition.
With our participation in the Champions League, our profile has
been raised in the conference market with enquiries from a number
of blue chip companies.
The Visitor Centre has continued to perform well over the season
with an increase in visitors and sales compared to previous
years.
We continue to attract visitors from all over the world to enjoy
the Celtic story.
SUPPORTER RELATIONS
Our Customer Relationship Management (CRM) system brings
supporter and transactional data from many different business areas
into one database and is now an integral part of both the Club's
and our sponsors' marketing activities, allowing our supporters to
be contacted with offers, news and information in a targeted and
cost-effective manner.
This summer, we appointed a Supporter Liaison and Service
Manager to act as a point of contact for supporters and supporter
groups at the Club.
CELTIC CHARITY & FOUNDATION
Celtic Charity, the Club's charitable arm, again enjoyed an
exceptionally successful year, raising hundreds of thousands of
pounds for a range of worthy causes. The 1254125 fundraising
campaign was launched in August 2012 and activities throughout the
year included Kenyan Connection 2013, Annual Sporting Dinner, 1888
Charity Shield, Ben Nevis Huddle and two Lions Roar Again
events.
The Club's commitment to its charitable roots was maintained in
2012/13. Celtic Charity is now in the process of joining forces
with the Celtic Foundation (a department at the Football Club which
delivers social projects in our local communities) to establish a
new, stronger Scottish Charity with a wider role and greater reach.
This new entity, led by a new Chief Executive, will be called
Celtic FC Foundation and supporters will see further developments
in 2013/14.
HUMAN RESOURCES
Last season's on-field successes highlighted the results of our
commitment to nurturing talent within our First Team and Academy
operations. We have endeavoured to emulate this with the management
of our people off the field too, maintaining our Investors in
People status. In doing so, talent development has been a key area
of focus and investment over the past year and continues to be high
on the agenda for 2013/14. The latter part of last year saw the
introduction of Celtic's Talent Development programme, designed to
assist in terms of internal succession planning. The forthcoming
months will see the roll out of training programmes to address
personal development plans.
The Club has demonstrated its ongoing commitment to child
protection with the appointment of a dedicated Safeguarding Officer
reporting to the HR function, ensuring we are continuing to work to
the highest standards in this important area.
Compensation and Benefits has been an additional focal point
over the past year and will continue to be over the coming months
with the introduction of Pensions Auto-Enrolment. The Club is on
track to ensuring all its obligations are met.
In April this year, we launched our annual Colleagues' Attitudes
and Opinions Survey, which once again provided a wealth of useful
feedback. We will implement a plan of action to address areas for
improvement in the coming months, reflecting our ongoing commitment
to employee engagement.
A number of new employees have joined us in the last 12 months,
this injection of new blood bringing with it a wealth of new
thinking, knowledge and experience. In addition, we have also seen
the creation of some important new roles within the Club, including
Supporter Liaison Officer and Social Media Officer, both of which
reflect our proactive approach to communicating with our
supporters.
SUMMARY AND OUTLOOK
Season 2012/13 was an extremely successful year for Celtic. Neil
Lennon and his management team deserve much credit for the football
success achieved. Celtic progressed to the last 16 of the UEFA
Champions League and domestically the Scottish Premier League was
retained in addition to winning the Scottish Cup.
The football success achieved has greatly improved trading
performance, which, in addition to the gains reported from player
transactions, has resulted in impressive financial results for the
year to 30 June 2013, with a profit of GBP9.74m reported despite
the difficult economic climate. Such trading has assisted with year
end net cash at bank of GBP3.76m, which compares favourably with
GBP2.77m net bank debt the previous year. This performance has
provided an ideal platform to ensure further progress is
achieved.
Trading at the beginning of the new financial year has been
encouraging. Standard season ticket numbers are in excess of last
year, following the introduction of the one off GBP100 reward for
all applicants. Seasonal sales of premium and corporate tickets are
at levels comparable with last year and match ticket sales to date
have been encouraging. In addition, a contemporary new home kit,
together with a colourful away kit, have been launched successfully
in a competitive merchandise market.
Additional revenue streams continue to be sought, particularly
in respect of new media and commercial markets. The creation of the
new SPFL creates an excellent opportunity for Scottish football to
prosper, consider new opportunities to develop and improve the
European co-efficient for Scotland.
Player transfers have been an increasingly important element of
our business for a number of years. Our strategy to invest in the
Lennoxtown Football Academy, together with related support
services, was designed to identify, recruit and develop players
capable of playing in the Champions League. The strategy has been
successful to date.
During the summer transfer window a number of new players were
acquired and Victor Wanyama, Gary Hooper and Kelvin Wilson were
sold for sums well in excess of book value. Such gains from player
transfers, together with the revenues that will be generated from
our now secured participation in the group stages of the UEFA
Champions League, greatly assists our financial position, enhances
Celtic's profile and provides wonderful occasions for all fans.
The new match day bar and improved family section, opened for
this season, have both been very popular. Over the coming year it
is planned to demolish the London Road primary school, relocate the
existing ticket office, upgrade the car parking and landscape the
land at the front of Celtic Park adjacent to Kerrydale Street. We
are also delighted that Celtic Park has been selected to host the
opening ceremony of the Commonwealth Games in July 2014.
We continue to drive revenues and develop the Celtic brand at
home and abroad, which, together with the ongoing management of
costs, should maintain a sustainable financial model. The
discipline of good financial management will continue. We are
operating from a position of comparative financial and football
strength, with exciting young players continuing to make their mark
in the team and assisting the generation of value within the squad
itself. The biggest challenge facing the Board is the management of
salary and transfer costs whilst achieving playing success in order
to yield satisfactory financial results.
The return of Champions League football to Celtic Park this
season will undoubtedly provide a substantial boost and an added
incentive to maintain the progress we have made.
Peter Lawwell 23 September 2013
Chief Executive
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
2013 2012
Operations Operations
excluding excluding
intangible Intangible intangible Intangible
asset asset asset asset
trading trading Total trading trading Total
Notes GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
Continuing operations:
3,
Revenue 4 75,816 - 75,816 51,341 - 51,341
Operating expenses (excluding 4,
exceptional operating expenses) 5 (62,714) - (62,714) (54,436) - (54,436)
------------ ----------- --------- ------------ ----------- ---------
Profit / (loss) from trading
before asset transactions
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