Celtic report £13.4m profit for 2023-24 as costs & revenue increase
The club say they made a £6.6m gain on player sales, compared with £14.4m in 2023, while £16.6m was spent on player acquisitions.
Celtic signed Luis Palma and Nicolas Kuhn during the accounting period while fellow winger Liel Abada was a prominent departure for a reported £8m.
And Lawwell commented: “Our gain on sale achieved in the year was £7.8m lower than in the prior year. We also invested higher sums into the men’s team compared to the prior year in the form of salaries.
“In addition, we have experienced a rise in overhead costs driven by the high inflationary environment in which the business has operated over the last year. There was also the absence of £13.5m of non-recurring other income which was specific to the prior year.”
Lawwell also cited “the commencement of significant capital expenditure projects, including the Barrowfield [training facility] re-development and a number of stadium maintenance projects”.
Subsequent to the accounting period, Celtic sold Matt O’Riley to Brighton for a record £25m while other sales included Tomoki Iwata and Mikey Johnston. Spending on players totalled £31.2m, including the record signing of midfielder Arne Engels for a reported £11m.
