Expected £300,000 Warwicks profit offset by other costs

Warwickshire are expected to announce an operating profit of £300,000 for the last financial year early in 2012.

The figure represents a significant turnaround from a trading loss of more than £2 million in 2010 and can be attributed to staging a successful England v India Test and the Friends Life t20 Finals Day at the redeveloped Edgbaston last summer.

But Warwickshire’s delight at recording an operating profit in tough trading circumstances is likely to be tempered by the knowledge that other factors, including depreciation and interest on the hefty loans they have taken out to fund the £32 million development, mean that they will report a retained loss of almost £700,000.

Warwickshire have declined to comment on their financial figures until they have been formally signed off by their auditors in the New Year and the financial report has been sent to members ahead of the AGM in February.

There is also some sensitivity around the figures because of the joint venture with Compass Group UK, who signed a 12-year deal to be caterers for Edgbaston Experience Ltd earlier this year.

There are likely to tough times ahead for Warwickshire too as they failed to secure an Ashes Test in 2013 and a Test against India in 2014.

Warwickshire are still hopeful of securing up to five matches in the ICC Champions Trophy, which will be staged in England in 2013, to help soften the blow of missing out to Midlands rivals Trent Bridge on an Ashes Test match.

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