Kent County Cricket Club has announced its financial results for the year ending 31st October 2019.
The Club’s turnover reached £4.77 million and its primary financial performance measurement of EBITDA, (earnings before interest, tax, depreciation, and amortisation) for the year shows a surplus of £217,754.
After interest, depreciation and the net impact of other items, the deficit for the year after taxation was £201,932 in line with expectations.
Subscription income through Membership exceeded the previous year by £26,000.
The seven home matches in the Vitality Blast showed a substantial increase in income of £150,000 compared to 2018 even though two of the games were heavily affected by bad weather. Only one match was played at Beckenham and two of the matches at Canterbury were sell outs with gate receipts of £86,000 and £93,000.
The improvement in the customer experience at these matches also resulted in substantial increases in beverage and food takings on these evenings.
During 2019, the Club hosted Pakistan in a one-day tourist match, England Women vs. Australia Women and England Lions vs. Australia A.
The St. Lawrence Clinic, Kent’s leading specialist clinic, saw an increase in turnover of 7.5% and profits increase by 19% to almost £85,000.
Kent Cricket’s CEO, Simon Storey, said: “Achieving financial sustainability, whilst investing in our core business of cricket, will be the cornerstone of Kent Cricket’s strategy in the coming years.
“To achieve this, the Club needs to further grow revenues through a diversified business model, continue to raise standards across all areas of the business and at the same time manage our cost base carefully.
“2019 was a year of progress on all these fronts.”
The Club’s AGM will be held at 19:00 on Monday 6th April at The Spitfire Ground, St Lawrence. Members will receive the financial accounts and report in the coming days.