Worcestershire report loss of just over £200,000 for 2022 - their first deficit since 2019
- Published
Worcestershire have been playing first-class cricket at New Road since 1899
Worcestershire have reported their first financial downturn since 2019, having announced a loss of just over £200,000 for the 2022 season.
The County Championship Division Two club say they will be "laser-focused on tight cost control" while "looking to maximise all commercial opportunities to increase profitability."
The club's annual report showed a deficit of £203,287 to 31 December.
They were particularly hard-hit by a 49% increase in energy bills.
Record inflation hit their pre-tax profits of £1.9m.
But the club's debt has been reduced by £173,000 - and their membership increased to 2,459, generating a 20% increase in income from subscriptions.
Income from catering (£956,213), sponsorship and advertising (£310,975) and match tickets (£287,816) all also significantly increased in 2022.
Although they remain cushioned by their annual seven-figure England & Wales Cricket Board payment, as received by all counties, the club say that they are still not yet generating the sort of income they were prior to the Covid pandemic.
"We have not yet bounced back to the levels recorded in 2019," said a club statement.
The £203,287 loss, in contrast to last year's £8,477 profit, was almost entirely caused by expenditure on cricket, which increased in 2022 by £205,506, of which 54% was spent on wages.
This followed an increase in playing squad size, as well as additional support staff, ground staff and matchday stewards.
The Pears parted company with head coach Alex Gidman at the end of last season, appointing his deputy Alan Richardson to replace him.
They are also yet to fill the role of overall director of cricket, first advertised last July.
They did speak to Worcestershire-based former Warwickshire and England supremo Ashley Giles, but have so far not come to any agreement.
Former Pears fast bowler Paul Pridgeon, 69, who was due to retire at the end of last season, has for now stayed on in his role as chair of the county's cricket steering group.
"It continues to be a challenge to balance remunerating our dedicated employees with containing costs," the club said.
"Significant price pressure from suppliers has been relentless, with UK inflation at record high levels, particularly for food ingredients.
"We have absorbed these costs at current membership and ticketing prices."
Worcestershire are scheduled to start the new Championship season on 6 April at Derby in the first of successive away matches - against Derbyshire and Durham - before their first home game against Gloucestershire at New Road on 20 April.