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    Lancashire Cricket enjoys 92% hike in operating profit

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    Lancashire Cricket Club has enjoyed a 92 per cent increase in operating profit for the year ended December 31, 2017.

    The company witnessed profit reach £2,347,000, plus for the first time since 2014, the Club can report a net surplus after interest of £971,000, which after the 2013 Ashes year, is the second highest reported profit in the last 20 years.

    Test match returns improved greatly compared with 2016, despite the game starting on a Friday again. Meanwhile, attendance for the visit of South Africa exceeded 60,000, which was nearly 10,000 up on the previous year.

    The team’s performances in the County Championship exceeded expectations culminating in second place, while it was a disappointing season in white ball cricket.

    Off the field, last year saw the completion of the new Hilton Garden Inn, which earned more than £1 million of room revenue since its opening in August 2017.

    Elsewhere, the conference and events business experienced some challenges in the early part of 2017. However, after the opening of the hotel, November and December witnessed an increase in conference business and record Christmas party sales for the second year running.

    “With the completion of the new hotel bringing the lengthy development period to a conclusion, the Club is now able to fully focus on maximising the return on its investment by growing its business activities for the future benefit of cricket at both elite and recreational level,” said Lee Morgan, finance director of Lancashire Cricket Club.

    “It is important that the Club uses its world class facilities to create a lasting legacy with Emirates Old Trafford being the centre for cricket in the North West.”

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    AUTHOR

    Jade Burke

    Jade Burke, Editor for PA Life

    All stories by: Jade Burke