Celtic plc announced it expects that its earnings for the year ended June 30, 2023, will be “significantly higher than previous expectations” due to gains from player trading.
In a stock exchange statement, the Glasgow company said: “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.
“Player registration valuations and player trading can and often do materially influence Celtic’s financial performance in addition to trading revenue.
“The Summer transfer window is now open and following the closure of the window and the finalisation of the year end balance sheet review, the Club will then be in a position to confirm the extent of its improved earnings by publishing its results for the year ended 30 June 2023, in line with its usual timetable in mid-September 2023.”