Worcestershire have announced a pre-tax profit of £211,893, an increase of more than £123,000 on their 2010 surplus.
Though income from the England and Wales Cricket Board fell, attributed to the prize money Worcestershire won for winning promotion in 2010, gate receipts and commercial revenue increased.
Worcestershire’s continuing cost-cutting measures, which have seen savings of more than £550,000 in the last two years, also helped to strengthen the club’s previously precarious financial position.
“Having gained promotion to the first division of the County Championship in 2011, retaining this status for 2012 was a key target and to have managed this with a young and developing squad is a major achievement,” said Worcestershire chief executive David Leatherdale.
“The support from members and spectators continues to be strong which has seen a growth in revenue from both membership and ticket sales, as well as an increase in physical numbers attending matches, and is no doubt a reflection on the loyal and growing support the club has.
“The recent announcement with regards the potential new hotel and additional conference facilities for the club, combined with the already successful Graeme Hick Pavilion, will continue to develop the club as a 365-day-a-year sporting and conference venue, which in these uncertain economic times is key to our sustainability as one of only 18 first-class county clubs.
“I am sure 2012 will be another challenging year but we hope to continue the progress made during 2011, both on and off the pitch, and look forward to another exciting summer ahead.”