Old Firm Interim Results
Rangers posted interim results which show turnover down £29.1m to £23m, whilst a half year £6.1m profit was turned into a loss of £1.4m.
In contrast, Celtic have increased turnover 41% to £46.8m, with a profit of £17.9m compared to a loss of £1m last year.
All this just goes to show the importance of Champions League football to the financials of the big two in Scotland. A Champions League run, and you make a profit, but without it, you're in the red.
Rangers didn't make the CL this year, but they have had a successful UEFA cup run, but financially this is nothing compared to CL football.
The Herald points out that Paul Le Guen spent £4m on 11 players during his short reign, whilst the Celtic results show that additions to the intangible assets (players I'm guessing), were £6.3m. Celtic also made a profit on player transactions of £7m.
Another worry for Rangers must be that these results include the guaranteed payment from JJB, without which profit figures would have looked a whole lot scarier.
Celtic are currently heading the SPL by a substantial margin, and the financials put them in a similar position. But these results show that whilst the SPL is the bread & butter, both Celtic and Rangers have operations which are geared up to run on something a little more potent than bread & butter.
In contrast, Celtic have increased turnover 41% to £46.8m, with a profit of £17.9m compared to a loss of £1m last year.
All this just goes to show the importance of Champions League football to the financials of the big two in Scotland. A Champions League run, and you make a profit, but without it, you're in the red.
Rangers didn't make the CL this year, but they have had a successful UEFA cup run, but financially this is nothing compared to CL football.
The Herald points out that Paul Le Guen spent £4m on 11 players during his short reign, whilst the Celtic results show that additions to the intangible assets (players I'm guessing), were £6.3m. Celtic also made a profit on player transactions of £7m.
Another worry for Rangers must be that these results include the guaranteed payment from JJB, without which profit figures would have looked a whole lot scarier.
Celtic are currently heading the SPL by a substantial margin, and the financials put them in a similar position. But these results show that whilst the SPL is the bread & butter, both Celtic and Rangers have operations which are geared up to run on something a little more potent than bread & butter.
Labels: business, Celtic, financials, football, Rangers, sport
posted by pegj at 9:17 AM
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