Glamorgan in the black

The SWALEC Stadium © Andrew Hignell/Glamorgan Cricket Archives

Glamorgan made a profit last year for the first time since 1999 thanks largely to their new sponsorship deal with SWALEC.

The Welsh county followed a loss of £81,102 in 2006 by announcing a surplus of £14,688.

Operating profit totalled £268,500, compared to £81,887 in 2006, as turnover increased to £3,142,824 - a growth on the previous financial year’s £2,989,103.

The upturn in Glamorgan's financial performance follows on from the recent naming rights agreement with SWALEC.

With the new SWALEC Stadium about to be handed back by the contractor, the club is looking forward to the 2008 season in a brand new stadium under the direction of its cricket manager Matthew Maynard.

Chief executive Mike Fatkin said: "We're delighted that after such a difficult summer, with the stadium under construction and the appalling weather affecting the Twenty20 matches, we've managed to return an operating profit of £268,500.

Matthew Maynard will oversee Glamorgan's new beginning

"Having recently announced major sponsorship agreements with SWALEC, The Really Welsh Company, Paramount Office Interiors and others, we're seeing an increase in sponsorship income from £90,000 back in 2005, to a projected £1.1million in 2008.

“We have recruited several players from other counties and I know the players and our supporters are looking forward to the 2008 season with a real sense of anticipation."

Finance and commercial director Alan Hamer added: "It is pleasing to report an upturn in our financial performance. Not only is our income increasing, but the club is now generating cash flow for the first time for a number of years.

"The new SWALEC Stadium provides us with high quality facilities, not only for cricket but also for our thriving conference business as well.

“Tickets for this year's NatWest one-day international between England and South Africa are selling well with over 70 per cent sold to date and our hospitality packages are close to being sold out.

"We're aware that we have a considerable amount of hard work ahead of us, but we're looking forward to the npower Ashes Test match in 2009 and to staging further international matches in the SWALEC Stadium in future."