Warwickshire have announced that they made an operating profit of £326,828 last year but a retained loss of £692,638 after tax credits and payments to their new catering partners were taken into consideration.
The operating profit follows a loss of more than £2 million in 2010 and was helped by a 50 per cent increase in turnover helped by staging both a successful Test match between England and India and the Friends Life t20 Finals Day at the redeveloped Edgbaston.
The figures were roughly in line with those budgeted for, but Warwickshire are now facing three potentially testing years.
This year’s Test is a less attractive early-season fixture against the West Indies which will be the last Test at Edgbaston until 2015 after Warwickshire were outbid by Midlands neighbours Nottinghamshire to host an Ashes Test in 2013. Edgbaston also missed out on an India Test in 2014.
Warwickshire still hope that the blow will be softened by the allocation of five matches in the Champions Trophy in 2013. The International Cricket Council is still in negotiations with the England and Wales Cricket Board about the allocation of fixtures.
“Am I satisfied with the performance for the year that ended September 30 2011? Yes,” said Warwickshire chairman Norman Gascoigne. “Has it left us with work to do in the coming years? Yes.
“But on the assumption that we get final confirmation that the Champions Trophy delivers what we think it is going to deliver, that takes care of 2013.
“Then we have got 2014 to think about. But we have opportunities on the conferencing and banqueting side to drive that even harder and go some way towards filling the gap.”