Gloucestershire turn heavy losses into small profit

Gloucestershire have announced a small profit of £2,000 for the year ended September 30, 2011, representing a remarkable turnaround on the previous two years in which the club lost a combined total of £400.000 before tax.

Both income and expenditure came in close to budget in the latest figures, with income boosted by the annual Cheltenham Festival posting all-time record receipts.

The Twenty20 international between England and Sri Lanka, which Gloucestershire hosted at Bristol, was a sell out and the club’s sports and fitness business showed further growth, while advertising sales bounced back after a poor previous year.

Costs were reduced overall by £150,000, thanks largely to the club operating with a much younger squad of players, boosted by additional investment in coaching.

Gloucestershire treasurer Tony Elgood said: “Against the background of the previous two years we had to take a decision to compete this year with a significantly younger squad, backed by a number of older and more experienced players.

“That we were in contention for promotion in the County Championship right up to the last game is testament to the performances that some of these younger players put in.

“Trading conditions in the economy generally have been tough. We have not been successful in every area, but key areas of gate, hospitality and advertising have performed really well.

“We have continued to make significant investment in working up our ground development plans and we should hear on November 23 whether we obtain planning consent for this vital scheme.

“The development is essential if we are to retain international cricket in Bristol and develop and grow as a club.”

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