2018 Accounts Published
2018 has been another strong year financially for Somerset County Cricket Club.
Although the Club did not have the significant financial benefit of hosting an International T20 match plus several fixtures in the ICC Women’s World Cup as we did in 2017, the 2018 accounts show that the Club has still achieved a strong pre-tax surplus of £300,806, and an EBITA of £528,093.
Commenting on the publication of the accounts, SCCC Treasurer Malcolm Derry said: “These results have been achieved whilst still remaining committed to the financial goals of the Club which are:
- To operate within our financial budgets
- To meet our responsibilities in terms of debt management
- To invest in the infrastructure of the Cooper Associates County Ground
- To generate funds that will enable a significant investment in cricket.
“Commercial and Catering operations continued to significantly underpin cricket income, and they remain a financial bedrock of the Club.
“The Club continues to invest heavily in cricket, and we have further consolidated our position as an upper quartile investor in our playing squad, when compared to other First Class Counties.
“The Club continues to be in possession of a strong balance sheet and this is a reflection on the investment the Club has made in its infrastructure, and in particular the development of the Somerset Pavilion.
“The reduction in net debt in the year further serves to recognise the progress that the Club has made in driving cash flows and effectively managing its debt obligations.
“In summary the 2018 financial year was expected to be challenging due to no significant international fixtures or major events being staged. These successful results are due in no small part to the success of the team on the pitch, but also down to the exertion of strong financial management and controls in the Club.
“The ambition of the Club remains to provide financial results that will enable us to further develop our superb cricket facilities, to significantly reduce the levels of debt and to continue to over invest in cricket. The outlook continues to remain positive with the Club receiving a financial injection associated with the staging of three ICC Cricket World Cup fixtures in 2019.
To view the accounts in full, please click hereBack to News