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Kent Cricket Financial Results 2014-15

Friday 26th February 2016

Kent County Cricket Club has today announced its financial results for the year ending October 31st 2015, presenting a sixth consecutive year of improvement in the Club’s core results.

EBITDA (earnings before interest, taxes, depreciation, and amortisation) profits for the year were £345,784.

This represents continued EBITDA improvement (excluding exceptional items and exceptional ECB distributions), which has seen dramatic positive progress since 2009.

After interest, depreciation and the net impact of other items, the historical deficit for the year after taxation was £142,659.

In addition to the improved trading results, the Club was able to report that its Balance Sheet position had strengthened, with a net assets rising to £7.7 million – an improvement of just short of £1.4 million over the year.

The Club has also reported that, after the end of the financial year, the sale of land on the Old Dover Road side of The Spitfire Ground, St Lawrence to McCarthy and Stone was completed.

Chief Executive Officer Jamie Clifford said: “It is very pleasing to report, once again, continued improvement in our trading results. The Club has seen just short of a £1 million improvement in EBITDA since 2009 – an objective that was at the heart of our strategic planning.

“2015 was a memorable year for all involved in the Club – for excitement and drama on the field and for the progress made off it.

“We enjoyed some special days with attendance across the season at the highest level since 2009. The visit of Australia and a home NatWest T20 Blast quarter-final made a significant contribution to ticket sales.

“During the year The County Ground, Beckenham was re-opened having undergone a multi-million pound transformation. This exceptional venue now represents a major focus of our activities in metropolitan Kent.

“Towards the end of 2015 we secured the planning permission required to complete the McCarthy & Stone land sale and this marks a key moment in the Club’s history. We can expect the construction of high quality retirement apartments to commence in the coming months.”

“The Club would like to thank the members, supporters, commercial partners and sponsors who have provided such fantastic support. We now all look forward to the 2016 season with huge anticipation. Let’s hope that it brings us the success we all crave.”

The Club’s AGM will be held at 7pm on Monday 4th April at The Spitfire Ground, St Lawrence. Members will receive the financial accounts and report in the coming days.