Gloucestershire Cricket Announce Significant Profit
By Community | April 9, 2013
Gloucestershire County Cricket Club have announced imressive financial figures after a profit of £2.9million for the year ending January 31 2013.
The majority of that figure – £2.8million – comes from the decision to lease part of the Bristol’s County Ground to Linden Homes.
Despite gate income and membership being reduced by £57,000 and £30,000 respectively due to the high volume of inclement weather, the county still made a trading surplus of £108,000.
The news comes as a further boost to Gloucestershire, whose ground is being redeveloped with an enlarged pavilion set to be completed at the end of July.
Outgoing chairman Rex Body: “This has been an exceptional year for the club, with the start of our long-awaited development and the financial impact this has had.
“We are reporting a record surplus of £2.9m for the year. Stripping out the surplus on the lease to Linden we made an operating surplus of £108k, our best performance since 2007 despite the effect of the dreadful weather.
“There is still more to do, however. We are committed to substantial continued development spend as well as increased playing squad expenditure so we will continue to exercise financial prudence. Nevertheless, these results augur well for the future.”