UK's Celtic posts annual net loss on higher operating expenses

By Reuters News


Overview

  • UK football club's fiscal yr revenue fell 23% as club played in Europa League

  • Net loss after tax for fiscal yr was £4.8 mln, compared to prior yr profit

  • Operating expenses increased and gains from player trading declined yr/yr


Outlook

  • Company did not provide specific financial guidance for the current or next year


Result Drivers

  • EUROPA LEAGUE IMPACT - Co said revenue fell mainly due to dropping into Europa League from Champions League, affecting UEFA distributions, ticketing and retail

  • HIGHER WAGES - Co attributed increased operating expenses mainly to higher wages and salaries

  • LOWER PLAYER TRADING GAINS - Co said gains from player trading dropped to £16.0m from £31.5m yr/yr


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

FY Revenue

Beat

GBP 111.03 mln

GBP 106.70 mln (1 Analyst)

FY Net Loss

GBP 4.78 mln

FY Operating Loss

-GBP 10.49 mln

FY Operating Expenses

-GBP 122.14 mln

FY Pretax Loss

GBP 6.56 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the leisure & recreation peer group is "buy"

  • Wall Street's median 12-month price target for Celtic PLC is GBp215.00, about 22.9% above its September 22 closing price of GBp175.00

  • The stock recently traded at 2,237 times the next 12-month earnings vs. a P/E of 3,003 three months ago


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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