FINANCIER Mr Dermot Desmond has made a paper profit of just over £13 million on his stake in Celtic football club over the past 18 months.

Mr Desmond paid £3.99 million for his stake in Celtic in January 1995 and his shareholding is now worth just over £17 million. A report in yesterday's edition had incorrectly stated that Mr Desmond had paid almost £2 million for a stake which was now worth £7.78 million.