Celtic reveal record £15m profit

Brian Quinn says this year's results will be hard to better

Celtic have revealed record annual pre-tax profits of £15m following their domestic double and run to the last 16 of the Champions League.

The club also confirmed their year-end bank debt for the year ending 30 June was reduced to £5m, down £4m in a year.

Celtic chairman Brian Quinn said: "Last year was a very good year for our club and for Celtic plc.

"And it will be a monumental challenge to surpass it next year, although we will be trying to do so."

Interview: Celtic chairman Brian Quinn

The success in Europe underpins the healthy figures, with Quinn stating that the club made a net profit of between £11m and £12m from their Champions League involvement.

This season, Celtic still have a tricky second leg of their Champions League qualifier against Spartak Moscow to negotiate.

MY SPORT: DEBATE Celtic are in excellent financial shape ALFIE CONN

The tie is poised at 1-1 after Wednesday's match in Russia.

Their result in the return leg will determine much about Celtic's financial outlook for the coming seasn.

"As I have remarked before, success in football is seldom marked by unbroken, continuous advances," Quinn noted.

"The nature of modern competitive sport prevents that."

Chief executive Peter Lawwell praised the influence of manager Gordon Strachan, who is beginning his third season in charge.

"He bought into what we were hoping to achieve when he took over and these are the best results in the club's history," said Lawwell.

"The financial results have allowed us to invest £14.4m in players this year and £8.9m the previous year.

"And we have also invested £8m in our Lennoxtown training complex.

"The fans will always demand big name players which we hope to be able to continue providing."