Kent CEO Jamie Clifford admits “tougher year” as club reports losses for the year in financial figures
PUBLISHED: 09:26 02 March 2017 | UPDATED: 09:35 02 March 2017
County side has money in the bank, however, courtesy of sale of land around its Canterbury home
Kent County Cricket Club chief executive Jamie Clifford has described 2016 as a “tough” year after the club announced another operating loss.
However, due to the sale of land at the club’s Canterbury headquarters for development, it has got money in the bank.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss for the year was £65,835.
However, after interest, depreciation and the net impact of other items, the historical surplus for the year after taxation was £1.897 million. During the year the club completed the sale of land on the Old Dover Road side of The Spitfire Ground, St Lawrence to McCarthy and Stone was completed.
Chief executive officer Jamie Clifford said: “It was a tougher year from a trading perspective, but it is very encouraging that the club’s overall financial health is much improved.
“The club is extremely fortunate to enjoy the support of so many in helping to continue the positive progress that is being achieved.
“I am sure all will join me in wishing George Kennedy the very best as he moves on – his input as chairman cannot be underestimated.”
The club’s AGM will be held at 7pm on Tuesday March 28 at The Spitfire Ground, St Lawrence. Members will receive the financial accounts and report in the coming days.