Somerset target title on back of hefty profits

By Richard Latham

Somerset have announced a profit of £409,000 for the last financial year, despite one of the wettest summers on record. The club has continued to attract strong attendances at the County Ground, Taunton, and significantly increased its membership revenue.

Profits were boosted by achieving runners-up position in the County Championship for only the third time and a home Friends Life t20 quarter-final.

Catering, conference and banqueting business generated substantial turnover, while the Champions League campaign in the autumn of 2011 and an Elton John concert also proved important money-makers.

Somerset chief executive Guy Lavender said: “It has been a very tough year. but whilst we have seen some weather-related reductions in match receipts, we have been able to drive the club's business forward in a number of different areas.

“This year’s results are ahead of our record profit in 2011 and, considering the challenges of 2012, demonstrate that we are able to achieve consistently high levels of profitability. Looking forward to next year, there is every opportunity for us to continue to increase the financial strength of the club.

Chairman Andy Nash added: “Strong finances are the bedrock of being able to deliver cricketing success and to create a ground which provides excellent facilities for our members and visitors.

“It is a credit to our General Committee, management and staff that our long term vision remains on track, despite tough challenges being posed by the difficult economic conditions and the wettest summer in a century.”

“Our twin ambitions are to win the County Championship and to bring one-day international cricket to the County Ground. We are well placed to begin preparatory work on the next phase of ground development and. having consolidated and strengthened our cricketing squad for next season, we are in good shape for the 2013 campaign.”

Date: 10/12/2012 11:05:02 by Richard Latham
In: Today | Somerset |