Glamorgan Cricket boost profits by 60%
IMPROVING attendances for Glamorgan matches is the cricket club’s priority after reporting record results for 2009, the outfit’s executive management said yesterday.
The club saw operating profit up 60% to £1.6m for the year ending December 31, 2009, from 2008’s £1m figure. Over the same period, it saw turnover increase by 71% to £11.6m from 2008’s figure of £6.8m.
The club said it had made a £675,000 loan repayment to Allied Irish Bank (GB), bringing total repayments to £925,000 over the past two years.
It also said net assets at December 31, 2009 were £592,000, up from £253,000 in 2009.
After accounting for depreciation and interest charges, the retained profit for the year was £338,000 – in 2008 that figure was £76,000.
Glamorgan’s chief executive Alan Hamer yesterday said: “Despite the recession, we are delighted to have been able to report a record operating profit and to increase our turnover to £11.6m – this is nearly four times the annual turnover the club reported back in 2007.
“Given the current economic climate, we can no longer rely on cricket as being our only source of income – Glamorgan match days account for less than 15% of the available days per annum.
“It is therefore pleasing that during the past 12 months we’ve been able to add further high profile companies to our growing list of sponsors.
“Our conference and events business continues to grow and now generates over £1m of revenue per annum – during 2009 we staged a number of high profile events including the first ever Cabinet meeting to be held in Wales.
“The profit from staging the first Ashes Test match was significant and although we will be staging a further three international matches in 2010, the contribution from these matches is expected to be much lower than that generated from the Ashes.”
Mr Hamer has targeted an improvement in the club’s off-field revenue streams, but is also aiming for growth in revenue through more conventional means.
He added: “In 2009, our Glamorgan match day revenues, principally attendances, were down 56% on the back of disappointing one-day performances and this is an area where we expect to see a marked improvement in 2010.”
Mr Hamer, who had been financial director at the county for three years before his promotion, has previously admitted turnover would be well down in 2010 on the year before because of the effect of the Ashes.
As a result, innovative events and attractions at the Swalec Stadium are being examined, as efforts to increase non-cricketing revenue are ramped up by Glamorgan.
He said he also wants to see attendances for one-day and Twenty20 games increased to 10,000.
Paul Russell, club chairman, said: “2009 was a momentous year for the club and I am delighted that we’ve been able to report a profit for the third consecutive year.
“The financial importance of staging high profile international matches, such as an Ashes Test match, can be clearly seen. We are now an established Test match venue and have been awarded international matches through until 2016.
“We have every reason to look forward to the future with confidence.”
Reporting: Walesonline
iPad is ready for launch but UK has to wait
Apple’s iPad tablet computer will hit the shelves in the UK in late April, almost a month after US users will be able to get their hands on the company’s latest device.
Town centre roadworks impact business says traders
TRADERS say roadworks in Penarth are driving business away from the town centre, with work on a major section of the scheme expected to get under way next week.
Construction will move to Glebe Street on Thursday (March 11) to make the road one-way in a southbound direction from Plassey Street to Windsor Road – and traders fear congestion will get worse along what is one of the town’s main thoroughfares.
The Vale of Glamorgan Council scheme, which will also see Arcot Street made one-way northbound, began in January.
Shop owners say roadworks have already had an adverse affect on business and are concerned that customers will go elsewhere when diggers move to Glebe Street next Thursday.
Pravin Patel, co-owner of electrical store Mediatouch on Glebe Street, said: “Business is very quiet at the moment and the roadworks don’t help.
“Work is due to start outside the shop next week but it has already caused problems.
“I can’t find a parking space in the mornings and I know customers are struggling.
“I just hope the Vale Council gets on with the job.”
The scheme, which is due for completion by the end of June, will also provide more regulated parking bays with those in streets nearest the town centre being subject to limited waiting of one hour, and other nearby streets to a two-hour limit.
Traders, however, are concerned at the lack of parking while construction work takes place. Stuart Merry, owner of pet supply shop Chris Capus on Glebe Street, said: “We’ve had a bad February and I think that’s partly down to the roadworks.
“A lot of customers are finding it difficult to park.
“People who don’t live here will drive in, see the congestion, and drive straight out again.
“The roadworks are here though so we just have to make the best of a bad job.”
Lee Dyke, an electrician working on shops in the area, added: “We’re flat out to finish because when work starts on Glebe Street it’ll be impossible to park.
“It’s hard enough now.”
The traders have also urged Penarthians to support local business by continuing to shop in the town.
Sylvia Godfrey, owner of ladies fashion boutique Image, said: “If the new one-way system continues to drive people away, then so many businesses are going to be lost.
“There’s so much choice in Penarth – but local people have got to start using local shops.”
Vale Council officials confirmed the project is on schedule and that checks are in place to minimise disruption.
Head of visible services, Miles Punter, said: “The Penarth town centre improvement scheme is progressing well, with works along Plassey Street nearing completion.
“The one-way system along Arcot Street (lower) has been implemented successfully to provide an area for the council construction teams to store materials and offices.
“Construction work is planned to commence on Arcot Street early next week. “The implementation of the one-way system along Glebe Street will take place from the end of next week, with the final element of the works on Windsor Road anticipated to commence towards the end April.
“We have planned the works, and are monitoring progress, so that the minimum of inconvenience is caused to both shoppers and the local town centre businesses,” he added.
“All pedestrian routes will be kept open and access maintained to properties at all times.
“We are working seven days a week to complete the works as quickly as possible.”
Reporting: The Penarth Times
City hold on for vital win
JAY Bothroyd led by example in times of need for troubled Cardiff as his eighth league goal of the season after just three minutes proved enough to see off play-off rivals Middlesbrough.
The Bluebirds captain pounced to secure a much-needed victory that will prove as crucial as any other the South Wales outfit will have this season.
And manager Dave Jones, celebrating his 100th win in charge of the club, will be relieved to finally see some positive headlines as the cash-strapped club prepare to go back to the High Court on Wednesday over their unpaid tax bill.
The result, which secures a league double over Boro, comes on the back of successive defeats which have hit the club’s promotion charge.
On the balance of play it was a fair result despite a much improved second-half display from a Boro side who were well below par before the break, while both sides had reason to be unhappy with match-turning decisions made by referee Darren Deadman.
With all of Cardiff’s problems – both on and off the pitch – Jones will have welcomed his side’s dream start with open arms.
The ball found its way to Darcy Blake via a short corner, he chipped into the box and Gabor Gyepes was on hand to poke goalwards from where Bothroyd converted at the back post.
The hosts continued their fine start and the travelling Boro fans had to wait 20 minutes for their side to apply any sort of pressure in the final third although it failed to produce an attempt of note.
Jeremie Aliadiere was presented with a good chance to level matters for Boro in the 29th minute after a defensive mix-up between Anthony Gerrard and Adam Matthews but the Frenchman could only fire well over the bar.
Bothroyd stabbed wide at the other end as Cardiff continued to enjoy the better of the first half.
And a disappointing Boro were handed a let off just minutes before the interval as referee Deadman booked Chris Burke for diving in the area, despite his assistant appearing to flag for a penalty and the majority of those inside the Cardiff City Stadium feeling the same way.
Cardiff again started on the front foot as the game got back under way and Gavin Rae stooped to head wide with just two minutes gone.
But Leroy Lita, barely noticeable in the first half, wasted a great opportunity for Middlesbrough in the 49th minute when he headed over from six yards.
It was the home side who were this time let off the hook just before the hour mark as David Wheater appeared to head home Barry Robson’s free-kick but the goal was seemingly disallowed by referee Deadman for handball, much to the annoyance of everyone in a red shirt and manager Gordon Strachan.
By now the encounter was a much more even contest with both sides creating half chances at either end as the game approached the final 15 minutes.
Cardiff keeper David Marshall was called upon to produce fine saves to deny Chris Killen and Gary O’Neil as Boro pressed, but it was Blake who came closest to a second for the hosts when he struck the crossbar with virtually the last kick of the game.
Reporting: Walesonline
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