Celtic (CCP) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended 31 December 2025 fell 28.9% to £59.4m compared to £83.5m in the same period last year, mainly due to Europa League rather than Champions League participation.

• Profit from trading before intangible asset transactions dropped to £4.2m from £26.9m year-over-year.

• Profit before tax was £13.2m, down from £43.9m in H1 2025.

• Significant management changes occurred, including the resignation of the first team manager and subsequent appointments.

• The club is currently 3rd in the SPFL Premiership and has progressed in both the Scottish Cup and Europa League.

Financial highlights

• Operating profit, including player transactions, was £11.1m, down from £42.0m year-over-year.

• Profit on disposal of intangible assets (player transfers) was £14.1m, compared to £21.5m in H1 2025.

• Period-end cash increased to £67.4m from £65.4m a year earlier.

• Basic earnings per share were 10.39p, down from 34.70p in H1 2025.

• Net book value of intangible assets at period end was £42.1m, down from £46.5m.

Outlook and guidance

• Revenue and profits for the second half of the year ending 30 June 2026 are expected to be significantly lower than the first half.

• Full-year profits for 2026 are projected to be lower than those posted for the first six months.

• The second half is typically weaker due to seasonality and timing of European competition revenue.