Promoted cricket club improves financial performance
Newly-promoted Worcestershire County Cricket Club has played down its healthy-looking financial scorecard, highlighting the big contribution from the England and Wales Cricket Board (ECB) in racking up a surplus.
The cricket club, whose parent company is an industrial and provident society, increased its post-tax surplus by 5% to £449,426 in 2017.
However the club said "the underlying position remains loss making" because both 2016 and 2017’s results were "flattered" by additional distributions of £500,000 from the ECB.
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