Worcestershire CCC chairman Stephen Taylor outlined his thoughts on the past 12 months and what lies ahead for the club in his annual report at Wednesday evening's meeting in the Graeme Hick Pavilion.

He said: "The good news is again that the club has been able to produce a profit of £182,412. It is again great credit to this club.

"I think it is now our sixth profit in a row and that is very important in the current cricket climate that we are a club that is creating profit.

"I have spoken to a lot of counties over the past 12 months and there are very few of them who can actually say that and a lot of them, unlike us, have an immense amount of debt which they are carrying.

"We do have some debt but our debt is controlled and manageable for the future.

"With that positiveness, going forward is still important financially for the club and we take forward what David is leaving us to the next five years.

"I clearly do see that we have drawn a line under everything that David has completed as chief executive over the last five years.

"We see the evidence of the structural capacity we now have here as a club and the club now have the opportunity over the next five years to maximise the facilities we have here.

"That is very much around the commercial bit of our cricket club.

"On the commercial side, we do have to continue to be cost effective, to be efficient, to continue to make a profit.

"With the introduction of our interim CEO Tom Scott, we have a programme this year where we are looking at our structures, looking at our efficiencies.

"Tom will continue that programme throughout this year which again will look for us to build on that profitability as a club.

"Although we have profitability, I think it is important we also understand cash is king. A lot of our time and energy here is spent controlling and managing our cash.

"That is a difficult area for us and one of the reasons it is difficult is because one of our biggest customers is the ECB and they supply us with a substantial amount of money each year.

"But the consistency of that supply varies and that makes the management of our cash pretty difficult and I do give credit to Chris (Smith) our finance director and David Leatherdale and all of the team who have to manage under those circumstances.

"I think for the future, the important thing is that there is change within the ECB and part of that is that they have a new finance director coming in May.

"I am very hopeful that myself, our board, will be making sure we put our points forward to that finance director to help us be a stronger club but help us from a point of view of that cash flow and that financial contact and trust we need with the ECB for the future.

"As regards the cricket structure, I think it is important you members know that we as Worcestershire Cricket Club did write to the ECB to say that we didn't support their reduction of the County Championship.

"Unfortunately, for the good of cricket as a whole, there had to be a solution for us to move forward and for the 2017 season, there is a reduction.

"For the future of cricket, it was important there was some change and I think there will be change in the future.

"But we have a great cricket team and support team. Recently I have seen Matt Mason, Kevin Sharp, Elliot Wilson, Ben Davies, Ross Dewar all in action under the superb leadership of Steve Rhodes.

"I think we are in a very strong position to react to that change (in the game) in the future with the young players and our professional cricket team and squad that can meet those demands in the future.

"I think as members you should be very excited about that. It is an exciting time. It is going to be challenging but it will be exciting for us.

"I wish Mitch and Bumpy all the best for the season. I think we are going to have an okay season. We've got some great youngsters."