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Worcestershire make profit of £225,009
5:51pm Friday 25th January 2013 in Sport
WORCESTERSHIRE have announced a profit after interest of £225,009 for the year ending September 30, 2012.
Chief executive David Leatherdale said: "While it is pleasing to make a profit for the third consecutive year, the 2012 figure is boosted by the exceptional profit from the land lease to Premier Inn.
"At the cricket club's 2011 annual meeting it was noted that we had done a great deal to reduce risk, but clearly have not yet done enough to offset the extreme adverse weather in 2012.
“Met Office figures showed 2012 to be the second wettest summer since records began and resulted in the loss of over 15 days home and away cricket, making 2012 a real challenge.
“Two summer floods resulted in the movement of a one-day match to Kidderminster but, despite this, the ground recovered remarkably well after both these incidents.
"However, it again goes to show that developing the club into a true 365-day-a-year venue is vital in order to develop further revenue to invest in the on-field product and create a more viable and sustainable club for the long-term future.
“We now have our Premier Inn hotel and new club facilities under construction, which is anticipated to attract 35,000 to 40,000 hotel visitors a year, and combined with our own new conferencing, bars and executive facilities will allow the club to extend existing revenue streams as well as develop new areas.
“This will create a truly 365-day-a-year business with a long-term viable and sustainable future ultimately allowing further investment both on and off the pitch.
"As we head into 2013 it is hoped the visit by Australia on July 2 to 5, as they warm up for the eagerly anticipated 2013 Ashes series, will also give the club and city a boost at the height of summer."
In the annual report sent out to members, the club admitted the last year saw a disappointing campaign on the playing front.
It read: “After two seasons in the first division of the LV=County Championship, 2012 proved to be a difficult third season for Worcestershire although a quarter-final place in the Friends Life t20 was a considerable improvement on previous years.
“Overall, individual performances were not of the standard of the 2011 season which ultimately resulted in relegation from the first division of the County Championship for the 2013 season.”