Surrey CCC have announced a pre-tax profit of £5.4m for the 2021/22 financial year.
The figure was announced by Club Chair Richard Thompson at the Annual General Meeting. The result is an excellent return to profitability for the Club after the previous twelve months saw a Covid19 induced loss of £1.2m. Prior to this, the Club had recorded record profits in the 2019/20 financial year.
Due to Surrey CCC’s legal structure as a Members’ Club, all money made is retained to be spent within the Club, continually improving The Kia Oval, building improved player pathways and talent ID programmes, bolstering financial reserves and expanding the Club’s commitment to sustainability and the local community.
After the first two matches of last season were played behind closed doors because of the Covid19 pandemic, Members and fans were gradually welcomed back to The Kia Oval last year.
The Club were able to host approximately 4,000 Members for games in the Vitality Blast, were permitted a 50% crowd for the One Day International between England and Sri Lanka and then welcomed capacity crowds for the Test Match between England and India and Oval Invincibles home games in The Hundred.
From an off the field perspective, the Club’s Conference and Events business was still subdued by the pandemic and lockdown periods throughout the year, but still managed to bring in sales of £3.1m.
Speaking at the meeting, Surrey CCC Chair Richard Thompson said: “These are outstanding results and the Club and its members should be very proud of the resilience that was shown throughout the Covid19 pandemic.
“Given the first two matches at The Kia Oval last season were hosted behind closed doors, to bounce back and record a profit of more than £5m is over and above what we expected and serves as testament to hard work and dedication of our fantastic staff.”