Here's everything chairman Peter Lawwell said to shareholders at the Celtic's AGM in his Q&A with Gerry McCulloch.

Chairman, what would you regard as the highlights achieved in the past year, both on and off the pitch?

Well, again, it was another really excellent year for the club. A lot of positive stuff going on. Off the pitch, certainly, the financials were really, really positive. Our turnover at £124.6 million, which was 3.9% last year. Profitable before tax of £17.8 million.

And more than £72 million in the bank at the end of the year in terms of cash reserves. So really, really positive off the pitch. Those cash reserves and the strong balance sheet we have allowed us to invest in the squad in the summer. We broke our transfer record on two occasions. We've invested in Lennoxtown, an upgrade. We've invested in the infrastructure changes that are needed.

And, of course, we've got Barrowfield, which is a really exciting project that will hopefully be open in January. And it will give us great benefit in the long term in terms of developing our kids and the women's football. Another advantage having such high cash reserves has for us is that this an uncertain industry. When you're winning, everything is fine. But we need to provide for the longer term if things don't look quite as well as they have been in the past.

So we can see, looking elsewhere, what happens if you don't participate in the Champions League for a year and you replace that with the Europa League. So that is a difficult financial challenge we have looking forward. So, all in all, off the pitch, really, really positive.

On the pitch, again, another great year. We won the double. We won the Women's SWPL for the first time.

And we qualified for the Champions League last year for the men. And this year for the men and the women. So a great year. And credit to everybody that's involved.

What's the club's wider strategy going forward?

In the first team, we hope to play in the Champions League and then progress the careers and if they want to stay here, fantastic, but if they don't, we transfer them and reinvest the transfer money back into the squad. That's basically how we approach our player recruitment. Of course, you need more experienced players to bring that balance to develop the kids on and that's part of the package for the first team.

But again, we need to create a circumstance where coaching, behind that, creates a team with the players that we're bringing in to develop. And on the commercial side, for example, we are a hugely popular club around the world, we're a huge institution, but we don't have the mass audience that comes with Real Madrid, Man United, Man City. So we have to create a way that we can get more people to come to Celtic.

We play in Scotland, it's a small league and therefore it doesn't attract a mass audience. So again, we have to be creative, we have to be creative in social channels, in our own platforms and put that together to create exciting, new, innovative content that actually attracts people to Celtic. So overall, I think it's there as well, strategy and therefore will continue down the line we've been for the last 20 years.

You yourself were recently made vice chairman of the European Club Association. How important to the club is Celtic's involvement at such a strategic level in the ECA?

The European Club Association is recognised by UEFA and FIFA as the sole independent representative of the clubs around Europe. There are around 700 clubs in it. So to have a seat at that table I think is really important for our club and for Scottish football. The positions I have, it takes a lot of time, the positions are as bench chair of the ECA, which is chaired by Nasser Khalifa, the PSG president. I'm on the ECA executive committee, I'm on the elite ECA finance working group and I'm on the joint venture company between UEFA and ECA that is responsible for all the commercial and administration aspects of the European competitions, which is the Champions League, Europa League, the Conference League, the Youth League, the Super Cup and Footsal.

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So it's really, really important for us to be involved. In the achievements of the ECA, just to give some perspective, the achievements of the ECA over the last few years is heavily involved in the new European competition formats, access and distribution. We are a huge part in the new financial sustainability rules, which gives a bit more competitive balance.

I hope to get a bit more competitive balance in the competitions and also make more sure the clubs will live by their means. We've also been heavily involved in the solidarity increase for the non-participating clubs in the Champions League. So for example, the fact that we are participating in the Champions League, I think this year other SPFL clubs will get around a million euros a year from the solidarity, which is quite significant for these clubs.

And finally, we are again instrumental in providing the club benefit scheme, which is partly compensated for players going into international cricket. So a lot of important stuff, a lot of positive stuff, but primarily it gives us a seat at the table to help influence and define the future of European club football.

So looking ahead, now what are the main challenges and opportunities which face Celtic?

I think that the challenges are probably as they are, it's to keep maintaining our dominance in Scotland.

The challenge is obviously to improve and progress in the Champions League, be regular participants, improve there and improve and get as far as we possibly can go. The opportunities, I think, all centre around European competition. I think the fact that we have a bit of influence, we need to make sure that European club competition goes the way we want to go, maybe expansion and the new format actually give us more games, more certainty, there are more clubs in it and potentially more money.

So really to expand on that going forward, I think the opportunities certainly lie in Europe rather than here in Scotland. And finally, once again, thanks to everyone for their fantastic support over the years. It's been vital to this club in terms of success.