Derbyshire County Cricket Club has completed a massive turnaround by recording a profit of £20,218 for the year 2011 – the club’s fifth profit in six years.
The loyal support of members and sponsors, a Friends Life t20 attendance increase of 33 per cent and a thriving conference and banqueting operation have contributed to this remarkable financial success.
Despite heavily investing in the ground during the last two years including the recent additions of a permanent marquee, a 1,800 seater stand and the turning of the playing square through 90 degrees, Derbyshire CCC has no debt and is in a healthy financial position following five profits in six years.
Chief executive Keith Loring said: “Such an impressive financial turnaround is testament to the hard work of our off-the-field team and to the support of our sponsors, members and supporters.
“After losing money for the first time in five years in 2010, everybody at the Club was on a mission to turn it around in 2011 and happily their efforts have been rewarded.
“In many ways a small profit of around £20,000 is the perfect result for the Club because it demonstrates that we have maximised our spending on the team whilst running a profitable business.
“We will continue to strive for additional revenue from all sources to fuel investment in the playing side with the ultimate objective of success on the field.”
Chairman Chris Grant said: “It’s great to get back into a surplus, particularly as it represents a £200,000 turnaround from the previous year.
“Keith and the entire off field team should be commended on how hard they have worked to achieve this excellent result.
“The task moving forward is to stay in the black in 2012. The economic climate is challenging but – with the continued help of our sponsors, members and supporters – we are confident of another successful financial year.”