Kent announce improved financial results for year to November 2015
- From the section Cricket
Kent have announced an improved pre-tax profit of £345,784 for the financial year to November 2015.
After EBITDA (earnings before interest, taxes, depreciation, and amortisation), the club recorded a loss of £142,659.
"It is very pleasing to report continued improvement in our results," chief executive Jamie Clifford said.
"The club has seen just short of £1m improvement in EBITDA since 2009 - an objective that was at the heart of our strategic planning."
Kent have also reported a strengthened balance sheet, with a net asset value of £7.7m - an improvement of just under £1.4m over the year.
The club also sold land at the Old Dover Road side of the St Lawrence Ground to property developers shortly after the end of the financial year, after being granted planning permission.
"This marks a key moment in the club's history. We can expect the construction of high-quality retirement apartments to commence in the coming months," Clifford added.