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Ashes provides payday but can't prevent profit dip at Warwickshire

Cricket club releases annual report which shows fall in pre-tax profit but off-field activities continue to grow

Edgbaston stadium in Birmingham welcomed the Ashes last year but profits still dipped at the club(Image: Ryan Pierse/Getty Images)

An Ashes Test provided a bumper boost to Warwickshire County Cricket Club but failed to prevent a drop in profit at the sporting institution.

Tens of thousands of cricket fans descended on Birmingham last June for the first test between England and Australia, contributing to a £6.5 million rise in revenue at the club.

However, higher energy bills and fees to host major matches meant a drop in pre-tax profit, according to the club's latest annual accounts.

The newly published financial report, for the 15 months to December 31, 2023, showed income had climbed from £26.2 million to £32.7 million but pre-tax profit fell from £3.61 million to £2.93 million, compared with the 12 months to September 30, 2022.

Warwickshire CCC said the men's and women's Ashes matches last summer drew in record crowds of 138,000, with ticket sales and hospitality providing a bumper payday for the club.

Away from action on the pitch, Edgbaston stadium hosted 680 events and welcomed more than 13,000 delegates as attendances to its exhibitions returned to pre-covid levels.

The regeneration of the famous venue and its surrounds continues with a new 375-apartment complex called Corkfield, entrance plaza and Skyline hospitality area all completing during the financial period.