Sri Lanka announce jump in profits

Sri Lanka Cricket have announced a dramatic increase in profits for 2005 of 357 million rupees ($3.5m), compared to a loss of 322 million rupees ($3.2m) in the previous year. Cricket remains the country's most popular sport, and its governing body's total income has jumped markedly from 280m rupees ($2.8m) in 2004 to 882m rupees ($8.8m) in 2005.

"Nearly 80 percent of our revenues came from selling television rights," Upali Seneviratne, Sri Lanka Cricket's finance manager said.

The board signed a record $50m television deal last year with Taj Television, the owners of TEN Sports. Visiting teams from the West Indies, Bangladesh and a tri-series between the West Indies, India and Sri Lanka have also helped swell the coffers - despite the tragic tsunami in December 2004 which left the board facing a 52.43m rupee bill when the stadium at Galle was destroyed.