UK's Celtic posts annual net loss on higher operating expenses
UK's Celtic posts annual net loss on higher operating expenses
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: ID:nRSV8632Va
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
Reuters Recommended Reads
Sept 22 - M&C Saatchi H1 LFL net revenue falls 1.4% amid client caution
Sept 22 - European shares muted as investors eye US-Iran talks
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.)