Kent figures show a loss

Kent’s financial figures have seen the club post a loss for the first time in three years. Figures for the year ending October 31, 2019, came out on Monday and showed an EBITDA (earnings before interest, taxes, depreciation, and amortisation) surplus of £217,754.

After interest, depreciation and the net impact of other items, the deficit for the year after tax was £201,932, although the club insist that was in line with expectations, with the club’s turnover reaching £4.77million.

It is the first time Kent’s figures have shown a loss since they showed an

EBITDA loss of £65,835 for the year ending 2016.

But seven Vitality Blast T20 home matches generated £150,000 for the club, even though two of their games were heavily affected by bad weather, with improvements in the customer experience resulting in substantial increases in food and drink takings on these evenings. Chief executive officer Simon Storey said: “Achieving financial sustainability, while investing in our core business of cricket, will be the cornerstone of Kent Cricket’s strategy in the coming years. To achieve this, the club needs to further grow revenues through a diversified business model, continue to raise standards across all areas of the business and, at the same time, manage our cost base carefully.”

The club’s general meeting will be held at 7pm on Monday, April 6, at The Spitfire Ground, St Lawrence. ■ Zak Crawley has signed a two-year contract extension.