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Kent Cricket's financial figures for year to October 2021 show profit for first time in three seasons

Kent County Cricket Club's financial figures have seen them report a profit for the first time in three seasons.

It was another Covid-affected season in 2021, however income was supported by the easing of restrictions, a home T20 Blast quarter-final - as Kent went on to win the tournament - and more than £30,000 being received in donations from members and supporters. Kent banked £70,000 from the ECB prize fund for winning the T20 Blast.

The figures will be received by members at tonight's AGM.

Kent reported a profit in 2021 for the first time in three seasons. Picture: Barry Goodwin
Kent reported a profit in 2021 for the first time in three seasons. Picture: Barry Goodwin

Delighted Kent treasurer Derek Taylor said: “Despite the continued impact of the Covid-19 pandemic, the club exceeded the financial targets we set for the year.

“Everyone across the club worked tirelessly to deliver these results and ensure that the club was able to deliver success on and off the field.

“We are grateful for the continued support of our various stakeholders, including our members, supporters and commercial partners.

“Our budget for the year ending October 31, 2022, shows a gradual return to a more normal trading environment although - with cost increases and a challenging economic climate - we are mindful that 2022 will be challenging.

“In-line with government guidance, we are forecasting a return of full capacity crowds and will be staging a number of events including conferences, concerts and fireworks. We expect ECB income to be maintained.

“Costs are expected increase as inflation rises and we continue to invest in our young and talented squad.

"We also must continue to plan for essential expenditure at both Canterbury and Beckenham grounds which will be necessary to maintain and improve standards.”

Figures for the year ending October 31, 2021, showed turnover totalled £7.3 million - a figure massively up from the previous year.

After interest, depreciation and the net impact of other items, the surplus for the year after tax was £383,435. That figure had been a deficit of just over £200,000 the previous year. Kent had last posted a profit in the year ending October 2018.

Figures showed an EBITDA (earnings before interest, tax, depreciation and amortisation) surplus of £968,021.

Income was supported with the limited return of crowds and gradual lifting of Covid restrictions throughout the season - with supporters back at The Spitfire Ground, St Lawrence, from May.

Batter Daniel Bell-Drummond in action during Kent Spitfires' T20 quarter-final win over Birmingham Bears last year. Picture: Barry Goodwin
Batter Daniel Bell-Drummond in action during Kent Spitfires' T20 quarter-final win over Birmingham Bears last year. Picture: Barry Goodwin

A home T20 Blast quarter-final victory by 21 runs against Birmingham Bears in Canterbury also boosted Kent's coffers.

Income was helped by an increase in payments from the England and Wales Cricket Board (ECB) under the new County Partnership Agreement, as well.

Kent's AGM is scheduled for 7pm on Monday at The Spitfire Ground. As well as receiving the financial report, members will be asked to approve the new club rules and terms of reference plus ratify the new board.

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