Date: Thursday 18 Aug 2011
LONDON (ShareCast) - Brian Duffy, a non-executive director at the Glasgow football club Celtic, has upped his stake in the company after its final results.
He took 50,000 shares at 42p a time and now, paying £21,000 in total, and now has 157,750.
In the year to 30 June, Celtic posted a pre-tax profit of £102,000, against a £2.13m loss the previous year, despite the club’s early exit from Europe hitting revenues.
“Our participation in Europe was short-lived, playing only 2 home games rather than the 5 of the preceding year,” said chairman John Reid, the ex-Labour cabinet minister.
“Those challenging economic conditions and the poor football performance in season 2009/10 undoubtedly had a detrimental effect on our revenues.”
Duffy joined the board in February 2010. He has been the president of the fashion label Ralph Lauren’s European operations since 2008.
Celtic came second in the Scottish league last year, behind city rivals Rangers.
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