Warwickshire annouce rise in profit

Warwickshire have revealed a second successive year of financial growth with a profit of £230,000 declared for the year ending September 2014, a rise from £5,000 for the previous 12 months.

Colin Povey, the club's chief executive, said the numbers demonstrated solid progress with turnover up from £11.7 million to £12.5m and earnings before interest, tax, depreciation and amortization up to £1.66m from £1.43m - the highest figure since 2009.

The club have been saddled with debt from the ground redevelopment in recent years but it is becoming less of a burden. The work has enabled them to secure a good haul of major matches from 2017 to 2019, including an Ashes Test and World Cup semi-final, reducing the financial risk for the club in the medium term.

"Our strategic plan contains some ambitious targets but we are increasingly demonstrating the value of redeveloping the stadium and broadening our business model," Povey said.

"We secured a valuable package of major matches and this will further underpin our business plan, particularly as we anticipate further Major Match awards in the Spring."

Craig Flindall, Warwickshire finance director added: "In 2014 we didn't stage a Test Match for the second year in succession. But ticket sales for the major matched that we did host were largely in line with budget, with T20 Finals Day being the highlight.

"It is also pleasing to note the 34 per cent and 39 per cent increases in domestic T20 ticket sales and commercial partner revenues respectively, reflecting the club's investment in its commercial operations over the last three years."