CELTIC have announced profits of £21.4million in the six months up to the end of last December, with turnover almost doubling.
Figures announced to the Stock Market show the club show revenue rocketed by 94.7 per cent on the same period in 2015 to £61.2m, up from £31.4m.
Profit from trading in the same six month period in 2015 was £1.6m. Celtic's involvement in the lucrative Champions League and the impact of new manager Brendan Rodgers on season ticket sales and a general feel-good factor around the club will largely account for the soaring figures.
It record a further £2m profit through the sale of players. The scale of Celtic's improved financial performance can be seen with a comparison to the previous year where the sale key player Virgil van Dyke accounted for the lion's share of its cash.
Share value has also risen by 11 per cent, while an uplift in the second half of the season similar to Celtic's last season in the Champions League, 2012/13, would see a year-end turnover of around £90m.
Chairman Ian Bankier said he did not expect the same level of financial performance in the second half of the season, playing fewer home fixtures and no European games.
Mr 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).
"From a financially stable base at the year end, during the summer transfer window we invested £9.5m (2015: £6.1m) in the playing squad with the acquisition of the registrations of Scott Sinclair, Moussa Dembele, Kolo Touré, Christian Gamboa and Dorus de Vries.
"Our profit on disposals of intangible assets of £2.0m (2015: £12.6m) largely reflects the transfer of the registration of Stefan Johansen to Fulham. Subsequently, during the January 2017 transfer window, we have invested further by acquiring the registration of Eboue Kouassi.
"The Board is optimistic about our immediate future and firmly supports the self-sustaining financial model that has served us well. We continue to seek to influence developments in domestic and European football through representation on the board of the Scottish Professional Football League, the European Club Association Executive Board and the UEFA Club Competitions Committee.
"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.
"Off the park, we were proud to become the first club in the UK to offer 3000 of our fans the option of viewing domestic matches in a 'safer standing' environment, with the installation of rail seating at Celtic Park. This has been very popular with fans and has attracted much interest from clubs in Scotland and England.
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