Celtic chairman Peter Lawwell has hailed a successful year on and off the pitch after the club published accounts showing a profit of £34m.

The Premiership champions, who also won the Premier Sports Cup and reached the knockout stage of the Champions League last season, showed an impressive set of financial results, which have resulted in £77m in cash reserves.

The announcement comes at a time when fans have been holding protests over what they see is a mismanagement of the club at the highest level, after what is perceived to be a failure to properly invest in the playing squad and improve Brendan Rodgers’ team.

A rise in revenue, up to £143.6m this year from £124.6m in the last accounts, has been attributed mainly to an increase in matchday income and UEFA payments after the Champions

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