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Kent Cricket Financial Results 2013-14

Thursday 19th March 2015

Kent County Cricket Club has today announced its financial results for the year ending October 31,2014, presenting another year of improvement.

EBITDA (earnings before interest, taxes, depreciation, and amortisation) profits for the year were £1,250,655. This represents continued EBITDA improvement, which has seen dramatic positive progress since 2009.

After interest, depreciation and the net impact of other items, the historical surplus for the year after taxation was £658,437, a major movement from the loss in 2013 of £98,576.

As a result of the improved trading results, the Club was able to report that its Balance Sheet position had been consolidated, with a net asset value of £6.3 million – an improvement of £630,000 over the year.

Chief Executive Officer Jamie Clifford said: “We are all very encouraged that the Club can once again present continued improvement in our trading results.

“This continued movement in a positive direction is the result of a comprehensive and clear plan. Much effort has gone into improving the commercial base of the Club and this has seen a nearly fivefold increase in returns (£423,000) since 2010.”

“An essential element of the plan is securing planning permission for development of the Old Dover Road side of the ground. This is something that the Club hopes to achieve through the Planning Appeal process in the coming months and a successful outcome would result in greatly improved financial stability for the Club.”

“May 2015 will see a return to Beckenham and it is very pleasing that over the last 18 months a centre of cricketing excellence has been created in this area of strong Kent support through very significant investment.”

“We now all look forward to seeing Kent perform on the field in the next six months. It is very encouraging that 14 of our 23 man squad have come through the Club’s own cricket development programmes.”

“Finally, I would like to thank the continued support of our members, supporters, commercial partners and sponsors.”

The Club’s AGM will be held on Tuesday 14April at The Spitfire Ground, St Lawrence at 7pm. Members will receive the financial accounts and report later this week.