Leicestershire CCC announce third successive year of profit
Thu 22 Mar 2018
Leicestershire County Cricket Club is delighted to announce an EBITDA of £134K (2016: £89K) for the financial year ended 30th September 2017, which represents an increase of 51% on the previous year. The club is also pleased to declare a third successive year of net profit.
Total income reached a figure of over £4m for the second successive year while the cost base in 2017 remained static. While ECB core funding reduced in 2017, Leicestershire CCC’s commercial revenue streams increased by 11% to £1.64m (2016: £1.47m) and have more than doubled since 2013. The successful hosting of seven Women’s World Cup matches and a 20% increase in T20 matchday income were the key commercial income drivers in the last financial year.
Leicestershire CCC Chief Executive Wasim Khan MBE said: “We are delighted to be announcing a third successive year of net profit. Despite the backdrop of challenges that we face within the game and the fact that the club made significant losses prior to 2015, we are very pleased to have seen a return to profit in each of the last three years, in line with the aims of the 5-year Business Plan. With continued investment expected across key strategic areas, a deficit has been budgeted for 2018, however the club fully expects to return to profitability from 2019.
“Our customer service rating across T20 fixtures for 2017 was above the national average, which demonstrates that our investment in priority areas is paying dividends. I’d like to take this opportunity to thank all of our corporate partners, Members, and staff at the club for their ongoing commitment and support.”
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