April 16, 2002

Essex County Cricket Club Announce Profit for 2001

Media Release

Essex County Cricket Club today announced a profit of £64,312 for the year ended 31st December 2001. This figure compares with a loss of £111,589 the previous year.

Chief Executive David East commented: "We are all delighted with the financial performance for 2001, particularly in the light of our very poor season on the field. Unquestionably 2001 was boosted by the visit of the Australian Tourists, but other income has increased significantly and great credit goes to our Commercial team for all their efforts. We have undergone some major restructuring of the Club in the last 18 months, and it is pleasing to see all the work paying dividends.

"We do, however, have great concerns about the future. With playing costs escalating to unprecedented levels it is likely that 2002 will once again show a significant deficit. It is becoming increasingly difficult to balance the demands for success on the field with the financial reality that all County Cricket Clubs face at the moment. We have invested heavily in players for the forthcoming season, and we look to them to return the Club to the successful times we enjoyed in the 80s and 90s."

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