Warks reveal fine financial results

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Edgbaston accommodated a combined attendance of more than 110,000 for the third Test with India and Friends Life t20 finals day

Warwickshire have reported an operating profit of £326,828 for the financial year that ended on September 30 2011, compared with a loss of £2,102,883 for 2010.

The results represent a 50% growth in turnover, following the completion of the £32million redevelopment at Edgbaston - which accommodated a combined attendance of more than 110,000 for the third Test between England and India and Friends Life t20 finals day in 2011.

Edgbaston’s new 25,000 capacity helped make up for the 2010 losses incurred due to reduced capacity while the development work was on-going.

The 2011 profits were also due to Warwickshire reinvigorating their hospitality and events business by creating a joint-venture company, Edgbaston Experience Limited, with its long-standing catering partner, Compass Group, for the operation of its new conference, banqueting, wedding, and exhibition facilities.

Warwickshire finance director Craig Flindall said: “The redevelopment is an essential part of creating a more rounded and robust business model and has already shown to be paying dividends for the club after it was opened on schedule for the India Test match in August.

“The main contract was also delivered under budget, which represents a significant achievement for the club. It has made the last 12 months one of the most exciting periods in the club’s history and these results are certainly a step in the right direction following the disappointment of 2010.”

“Whilst we’re acutely aware that we are still trading in tough economic conditions and have on-going repayment obligations to meet, with England playing at Edgbaston in all three forms of the games in 2012; 31 days of major match cricket confirmed here in the next five years and the growing popularity of our new facilities for conferences, weddings and exhibitions, we have much to look forward this year and beyond.”

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