Gloucestershire have announced a loss after tax of £216,000 for the year ended September 30 2010.
While expenses were kept under control, income did not come up to expectations, with Friends Provident t20 attendances affected by the football World Cup and disappointing ticket sales for the England v Bangladesh one-day international at Bristol.
The club were pleased with the two matches at Gloucester, which broke even compared with holding the games in Bristol, and hope to improve further on this during the forthcoming season when two t20 games will again be held at the King’s School.
The 2010 Cheltenham Festival was also a success, but overall income from hospitality and advertising were down on budget, reflecting the current economic climate.
Sponsorship was encouraging and the ongoing investment in the club’s BS7 sports and fitness club continued to produce a good and vital source of income.
Treasurer Tony Elgood said: “This is the second year running that the club has had a significant deficit. We clearly cannot continue to run the club at this level of loss.
“We have set a positive budget for the current year and we will be making every effort to ensure we deliver against this budget.
“Looking to the longer term, our ground development plans seek to ensure that we maximise the income from the use of the ground throughout the whole year.
“If we can significantly increase this source of income, we cannot only trade more profitably, but will also be in a position to make greater investments in the playing squad. Our aim is that the financial and cricketing success of the club can go forward hand in hand.”
Gloucestershire hold their Annual General Meeting later this month on Thursday March 24.