Lancashire report £1.5m loss for 2012 financial year

Lancashire have posted a loss of £1.5m for the last financial year.

However, finance director Lee Morgan is optimistic their position will improve in 2013 and beyond.

The £45m redevelopment of Emirates Old Trafford is due to be completed in May, while Test cricket will return after a three-year absence in August.

"When you run a business like ours, which is set up to host Test match cricket and it doesn't, it leaves a massive hole in the budget," he said.

BBC Lancashire

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