Glamorgan announce six-figure profit
Glamorgan have announced a profit of £338,000 – the third consecutive year the county has managed to stay in the black.
And this year’s figure compares favourably to the £75,000 profit they accrued in 2008.
It goes without saying that the staging of the first Ashes Test was the basis for the extent of Glamorgan’s financial position.
“Despite the recession, we are delighted to have been able to report a record operating profit and to increase our turnover to £11.6m – this is nearly four times the annual turnover the club reported back in 2007,” said the county’s chief executive Alan Hamer.
“We have every reason to look forward to the future with confidence.
“The financial importance of staging high profile international matches such as an Ashes Test match, can be clearly seen.
“We are now an established Test match venue and have been awarded international matches through until 2016.
“2009 was a momentous year for the club and I am delighted that we’ve been able to report a profit for the third consecutive year.”
But it was not all rosy in the garden. Despite the profit margins, the county admit hospitality sales were badly affected, and the sale of 9,000 hospitality covers for the Test match was much lower than they had originally targeted.
The club also admit their county match-day income was also disappointing, caused particularly by low attendances for Twenty20 Cup matches.