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Finance Notes: Scottish Side Celtic Says Earnings Down 4.6% From '13 To $105M

Scottish Premiership side Celtic has revealed the club's earnings fell by 4.6% from £75.82M in '13 to £64.74M ($105M), but "transfer trading contributed to a rise in profit." A drop in turnover was "partly caused" by the decision to give season-ticket holders a £100 ($162) discount because of the "continuing absence of Rangers in the top flight of Scottish football." Although "exceptional costs more than doubled" from £1.83M to £4.66M ($7.6M), transfer trading "contributed to a rise in profit before tax" from £9.74M to £11.17M ($18.1M) (London TELEGRAPH, 9/12). ... Rangers Manager Ally McCoist has confirmed he spent "a few quid" on buying up shares in the club's open offer this month. The club raised £3.13M ($5M) in its latest rights issue, falling short of its £4M ($6.5M) target, but McCoist revealed on Monday that he "dipped into his own pocket to invest." McCoist -- who already owned more than a million shares, "giving him a stake of just under" 2% -- said, "I did invest. Without going into too much detail, I just thought it was the right thing to do" (HERALD SCOTLAND, 9/15).

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