A combination of growth in the areas of high market activity and consolidation of our position in the remaining markets present exciting prospects for the group.

Mike's deep agency and automotive-account background will be invaluable to Dow Jones Online as we open our first office in Detroit. He will work closely with The Wall Street Journal print team to offer advertisers the full breadth and power of our media brands.

Turnover was down for the first time in 10 years, with sales of merchandise, in particular, falling fairly sharply following several years of uninterrupted growth.

On the face of it, last year marked a pause in a remarkable run of success enjoyed by Celtic in recent years,

He has proved himself one of the great Celtic managers, and his place in the history of the club is assured. He goes with our gratitude and best wishes.

Our performance on the football field was mixed [last season]. The team again participated in the Champions League group stage and won the Scottish Cup. However, the title was surrendered in the final minutes of the last day of the season, a very disappointing ending to a long and taxing championship.