Glamorgan Cricket Announce Operating Loss
By Community | February 27, 2013
Glamorgan County Cricket Club have reported an operating loss of £315,793 for the financial year, yet announced a positive earnings before interest tax depreciation and amortisation (EBITDA) of £398,882.
The county’s EBITDA represents a year-on-year improvement of £2,076,641, while the aforementioned operating loss compares with a £2,058,805 in 2011.
The net cash balances on December 31 2012 totalled £481,027.
Glamorgan chief executive officer Alan Hamer revealed his thoughts on the loss by saying: “While it is disappointing to report an operating loss, our trading performance during the past year is much improved.
“Despite the poor weather, income levels in 2012 remained similar to the previous year’s and the financial contribution generated from staging last year’s one-day international and also the Friends Life t20 finals day was also in line with budget.
“Like all businesses, liquidity is a key measure and it is pleasing to report that our cash balances have improved significantly during the past 12 months.”