It has been another very strong financial year for Somerset County Cricket Club.
The 2016 accounts show the Club remains one of the strongest performing First Class Counties, after achieving a pre-tax surplus of £596,700 for the last fiscal year. The accounts also showed an EBITDA of £670,111 compared with £411,681 twelve months ago.
The Club benefitted from a full year of operational activity on the new Somerset Pavilion, a very strong cricketing performance for the season, exceptional Natwest T20 Blast sales with every fixture sold out plus buoyant catering and commercial revenues.
Commenting on the results, Somerset’s Chairman Andy Nash said: “These excellent results crown a decade of significant financial progress at Somerset County Cricket Club. The strong growth in turnover and profit last year allow us to continue investing heavily in our cricket squad and press ahead with further significant improvements to facilities at the Cooper Associates County Ground, while paying down our borrowings on schedule. With the inauguration of Taunton as an International venue next season when England play an IT20 match against South Africa on June 23rd, as well as hosting the ICC Women’s World Cup, we expect the strong financial performance of the Club to continue. Whilst the financial future of the Club remains very positive, we will continue to invest in strong financial controls and robust management to ensure we are prepared for any challenges that may lie ahead.
“I’d like to place on record my thanks and congratulations to all my colleagues at Somerset County Cricket Club whose solid teamwork and commitment have made these outstanding results possible.”
To view the accounts in full, please click here.