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Worcestershire make £200,000 profit
WORCESTERSHIRE have announced that they generated a profit in excess of £200,000 for the year ending September, 30 2011.
Despite the perilous trading conditions of the current economy, the New Road club managed to create good financial results.
Up to September 30 last year, the County produced a surplus of £211,893 which was £122,912 better than the previous year. The accounts will be presented when Worcestershire hold their annual general meeting at New Road on Monday, February 27.
Chief Executive David Leatherdale said: “Comparatively recently we regarded £50,000 per annum profit before interest/tax as a good figure, we are now hoping to continue to achieve approximately seven to eight times that figure.
“It is stressed that while at present profits are needed to repair the ravages in our finances in the period 2007-2009 when the combination of floods, other losses, capital spend and falling property prices resulted in a reduction of 40 per cent of our asset value, it is not intended to starve cricket.”
He added: “Cricket is no different to any other sport or business and, as the economy still finds itself dealing with crisis after crisis, it is vital that we continue to be as prudent as possible in order to sustain the club’s long-term viability.
“Developing a competitive team on the pitch and improved facilities off it will be key to the long-term future of the club. All at New Road are working hard to put this into place, but it can only be done with the continued support of all our loyal members and supporters.
“Having gained promotion to Division One of the LV= County Championship in 2011, retaining this status for 2012 was a key target and to have managed this with a young and developing squad is a major achievement.
“The support from members and spectators continues to be strong which has seen a growth in revenue from both membership and ticket sales, as well as an increase in physical numbers attending matches, and is no doubt a reflection on the loyal and growing support the club has.
“The recent announcement with regards the potential new hotel and additional conference facilities for the club, combined with the already successful Graeme Hick Pavilion, will continue to develop the club as a 365-day-a-year sporting and conference venue which, in these uncertain economic times, is key to our sustainability as one of only 18 first-class county clubs.
“It is encouraging to see in excess of 150 new members have already joined for the 2012 season, which gets under way on April 5 against Nottinghamshire at Trent Bridge and at New Road against the same opponents on April 26.
“I am sure 2012 will be another challenging year but we hope to continue the progress made during 2011, both on and off the pitch, and look forward to another exciting summer ahead.”