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Alarm bells sounding for Everton

Everton
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By ESPN Staff

Celtic announce record profit of £15m

GLASGOW, Aug 20 (Reuters) - Scottish champions Celtic announced on Monday a record profit of £15.04 million ($29.89 million) for the year ending June 30.

Celtic won the Premier League and FA Cup double last season as well as reaching the final 16 of the Champions League for the first time.

The preliminary pre-tax results followed last year's loss of £4.22 million.

'In terms of both football success and financial results, 06/07 was an outstanding year for Celtic Football Club and Celtic plc, indeed, it was arguably among the best ever,' Celtic chairman Brian Quinn told the club's website