The Scottish Premiership champions announced a net profit of £15.2m for the first half of the 2018-19 season.
Scottish Premiership leaders Celtic have announced a net profit of £15.2million for the first half of the 2018-19 season as, on Tuesday, the Parkhead side released their interim report for the six months to December 31, 2018.
The report showed how the Hoops' revenue decreased by 30 per cent to £50million, mainly as a result of the club's failure to qualify for the Champions League group stages, but the sale of Moussa Dembele to Lyon on the final day of August yielded a surplus of £17.6million in the transfer market.
In addition, the report shows how profit from trading fell from £23.7million to £6.2million compared with the same six-month period in 2017, but the French striker's departure resulted in only a £2million deficit in total profits.
Furthermore, the reigning Scottish champions reported that cash in the bank at the turn of the year was £38.6million, though seven January signings were made, three of which were loan deals, with free transfers from the United States.
Here is how some Hoops fans reacted on the social media platform to the news:
Spend all of it in the summer— John Hodge (@19jhodgkiss) February 12, 2019
Spending all on Weah, Burke and Toljan. No excuses! pic.twitter.com/6ndywWXbiN— LouMun 67 ⚽️ (@lfmunro) February 12, 2019
Yaaaaas result of the season— Biglhist (@biglhist) February 12, 2019
All that cash sitting their and we get 2 loan signings and squander 2 million on a project that was playing in Slovakia, not to mention we paid for the Ukrainian boy who looks very decent and sent him back on loan, really strange that we didn't spend about more money— chivs (@CHIVS105) February 12, 2019
Get it all spent in the summer— Jamie (@Jamie67_) February 12, 2019
The board need to ensure they back the manager to deliver 10 in a row— Mark D (@markdaly82) February 12, 2019
They will be part of our history never forgotten if the do
If they dont the board will never be forgiven for protecting profit over delivering 10 in a row
New deal for Compper— 45 Rebellion ☘☘☘☘⚽️⚽️ #DissolvetheUnion (@Sevcositcom) February 12, 2019
Announce 20 million pound signing x— Cole (@cole_drummond_) February 12, 2019