Despite a tough economic climate, Kent County Cricket Club have announced that they made a substantial profit last year.

On the back of losses in recent seasons, Kent have shown the prudence to turn around a difficult trading position by posting a profit.

George Kennedy CBE, Chairman of Kent County Cricket Club, today issued the following statement regarding the Club’s financial results for 2011:

“Kent County Cricket Club is pleased to announce an operating profit for 2011 of £188,000, compared to a loss of £595,000 in 2010. After taking account taxation adjustments and interest charges, the overall profit was £379,000.

“I am delighted that the financial benefits of the work carried out at the St Lawrence Ground in the last year are starting to show in our results. We now have conferencing and event facilities which make Kent Cricket a year round business, in effect making the ground ‘fit for purpose’.

“In addition, the Club’s plan for hotel development remains an important part of our future strategy and it is hoped that this too will progress in the near future. These financial results, coupled with the recent appointment of Jimmy Adams as Head Coach gives me great confidence in the future of Kent Cricket.”

Redevelopment work continues at pace at the St Lawrence ground in Canterbury and the club are hoping to tie up a deal with a developer in the coming months to build a hotel facility.

This follows the announcement that there will be a Sainsbury’s Local store within the ground providing Kent Cricket with another revenue stream.

In recent seasons Canterbury has seen changes to the landscape on and off the field with housing now on the old nets area along with the former Bat & Ball site.

With the club seemingly having turned the corner financially, fans will hope success off the field will now lead to a culture of success on the field.