Published: 05/02/2010 15:15:33 | Modified: 05/02/2010 15:19:04
Author: Paul Bolton | All Contributors
Small profit announced by Leicestershire
Leicestershire made a small profit last year despite finishing as County Championship wooden spoonists and suffering from the recession.
The post-tax profit was just £689 but it was only the second time since 2003 that Leicestershire have been in the black.
And it contrasts with the six-figure losses already announced by Gloucestershire and Worcestershire, though Leicestershire chief executive David Smith has warned that he expects the difficult trading conditions to continue this year.
“A number of cost-efficiency measures were introduced prior to the start of the financial year in October 2008 and that has helped us to reduce our operating cost base which, in turn, has helped us to record a small financial profit,” Smith said.
“I am expecting difficult trading conditions to continue throughout 2010 with sponsorship and advertising revenue streams in particular continuing to be under pressure.
“But we are hopeful that three Friday night Twenty20 matches in June and July to see an increase in our corporate hospitality revenue.
“We have made the decision to substantially increase our investment into the cricket-playing budget for the 2010 season, including the recruitment of England international Matthew Hoggard as club captain and Australian Brad Hodge as our second overseas player for the Twenty20 competition.
“We have also invested in refurbishing our Members Bar and changing rooms throughout the winter months. At this stage membership income is up 15 per cent on this time last year, which is very encouraging.
“Non-Test Match cricket clubs will face many challenges over the next few years but I believe that after a difficult few seasons, as we move forward, the club has genuine reasons for optimism.”