Worcestershire CCC today announced a surplus of £428,661 for the financial year ending December 31, 2016 compared to a pre-tax profit of £182, 453 for the previous 12 month period.
But the underlying position at New Road remains one of loss-making – of £71, 339 until the end of 2016 – as the 'surplus' is only due to an additional ECB payment
The Club saw former Chief Executive David Leatherdale depart in March 2016 to take up a similar role at The Professional Cricketers' Association and this was followed by the appointment of Tom Scott on a full time basis on August 1, 2016 after an initial six month interim period at the helm.
The Club’s ambition to be an all year round venue remains.
With three concerts, the opening of a new Coffee House and other on-site facilities, we feel confident the club’s commercial sales will grow in 2017.
There have been significant costs associated with staff changes together with a complete supplier review.
The next 12 months will see continued growth through sales which will be reflected in a stronger balance sheet in the 2018 accounts.
Tom Scott said, ”We have carried out a number of cost saving projects from which the Club will benefit in the short to medium term.
"It was never going to be a quick fix, but with a new group and a more focused approach to commercial sales we will see the benefits.
“We have seen the continued success of the academy producing home grown talent through a dedicated coaching team led by Steve Rhodes.
"Worcestershire CCC support the view that home grown talent produced through the academy should form the foundations of our team but the introduction of world class players will never be ignored if the opportunity or need arises
“We have more work to do to improve our financial position and this can only be achieved if we continue to show sustained reduction of our existing debt by generating commercial sales which will remain a priority for 2017 and beyond”
Worcestershire CCC CEO