Celtic have released a trading update to the London Stock Exchange.
It’s been a busy week for the club with big contract renewals for Kyogo Furuhashi and Daizen Maeda, as well as the departures of Aaron Mooy and Jota.
The latter’s exit was officially announced on Monday evening, with Jota joining Saudi side Al-Ittihad for a reported £25m. (Sky Sports)
With Celtic PLC’s year ending last Friday (June 30), the club have had to offer an update announcing that profits will be much higher due to the significant Jota transfer business.
The club released the update on the London Stock Exchange on Thursday at 4pm.
It read: “Celtic has enjoyed a strong on pitch performance in the 2022/23 football season having won the domestic treble.
“In addition, it has enjoyed a successful year in generating gains from player trading. As a result of such gains, Celtic now expects earnings for the year ended 30 June 2023 will be significantly higher than previous expectations, which were formed before the conclusion of the season and prior to certain player disposals.”
The club also confirmed that it would publish its results for the year in the usual mid-September slot.
So it seems like the deal for Jota was actually concluded prior to close of play on Friday. That’s why Celtic have announced that our earnings will be higher than expected.
This is obviously good news for the club, even if Jota was a real fan favourite.
The figures we release in September are likely to be the biggest in our history. Equally, you can probably expect Celtic to spend their record amount in this summer’s window.
The club is in an extremely strong place at the start of the Brendan Rodgers era. Now we need to keep building on that.
In other news, Daizen Maeda has agreed a new contract keeping him at Celtic in 2027
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