Worcestershire toast record profit

Worcestershire have announced a record pre-tax surplus for the year ending September 30 2008 of £359,856.

In the 2009 annual report, the county claim they are on schedule to recover from the substantial losses of 2007 when New Road was flooded for the second half of the campaign.

The cost of the floods was £1.16million, which resulted in a pre-tax loss of £693,000 for 2007.

The county responded by announcing it was embarking on a two-year recovery programme - and the target for the first year has been met.

Worcestershire chairman Martyn Price is optimistic of making further inroads during the next 12 months.

He said: "I am delighted to report such good figures given the position we were in a year ago.

“We have had a great deal of support from all our stakeholders, particularly our members, sponsors and corporate clients.

Worcestershire have recovered well from the floods which wrecked the ground and the accounts in 2007

"In addition we must thank the England and Wales Cricket Board, the National Sports Foundation, our own Supporters' Association and Advantage West Midlands, who have all played their part and will continue to do into the second year of the recovery plan.

"Despite the general economic situation, we are optimistic about the year ahead. The broadcast agreement with BSkyB is in place and we have an Ashes summer plus the World Twenty20 to look forward to.

"The team is in the first division of both league competitions and we hope this and the continuing development of our entertaining young English players will enable us to maintain our membership and spectator numbers."

Worcestershire finished runners-up to Warwickshire in Division Two of the LV County Championship and won a play-off against Glamorgan to retain Division One status in the NatWest Pro40 - of which they had been champions in 2007.

During the year, the club also embarked on phase one of its three phase ground development plan with the construction of the new £2million Graeme Hick Pavilion due to be completed in May. Hick ended his 25-year career with the county at the end of last season.

The new development will also incorporate a new hotel as part of phase two of the plan and contracts have been exchanged with Premier Inn Hotels.

There will also be a new entrance into the ground with an administration block and shop, a hotel, a restaurant and new seating. Phase three will incorporate a new restaurant and banqueting suites plus hospitality facilities and a new media centre.