Published: 08:00, 14 March 2018 |
Kent County Cricket Club have announced they made a profit for the year ending October 31, 2017.
The club have also revealed that debts are at the lowest level since 2010 and they made a surplus of more than £200,000.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) profit for the year was £617,105 after a loss in 2015/16.
However, after interest, depreciation and the net impact of other items, the surplus for the year after taxation was £200,997 with debts reduced to their lowest level since 2010.
Subscription income through membership increased and the club achieved record T20 gate receipts, improving for a fifth successive year.
During 2017 the club hosted the West Indies in a three-day tour match and the Prince of Wales Royal Regiment Tigers Parachute Team during the 166th Canterbury Cricket Week as well as three pop concerts.
Increased income from St Lawrence Clinic as well as the sports facilities at The County Ground, Beckenham also contributed to the improvement.
CEO Ben Green said: "We are pleased to announce an upturn in our finances. It’s a testament to the hard work of everyone at the club.
“It’s encouraging to see growth in membership and T20 ticket revenues as well as off-field business which is key to becoming a year-round business.
“We realise that a number of areas of the business require investment but our immediate focus is on-field performance with the appointment of a director of cricket to drive success on the pitch.”
The club’s AGM will be held at 7pm on Monday, April 9, at The Spitfire Ground, St Lawrence. Members will receive the financial accounts and report in the coming days.
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