New Zealand Cricket report annual surplus of $2.6 m

New Zealand Cricket CEO, Justin Vaughan said it is pleasing to report that cricket in New Zealand is exceptionally strong © Getty Images

 

By CricketCountry Staff

 

Auckland: Oct 27, 2011

 

New Zealand Cricket, in its annual report, reported a financial surplus of $2.6 million in its annual report released.

 

“In a year including an ICC Cricket World Cup, NZC expects to do well financially and it is heartening to see a good surplus posted, although it is lower than what was anticipated,” said chief executive officer Justin Vaughan.

 

“The sharply-increasing US dollar continues to be challenging and revenue from the professional game were lower than usual with just the solitary home series against Pakistan last season.

 

“The adverse impact was partly offset by a significant reduction in New Zealand Cricket’s operational costs and we are grateful for the support of the ICC with their donation following the Christchurch earthquakes.

 

“It is pleasing to report that cricket in New Zealand is exceptionally strong. Playing numbers increased 3 per cent, with over 107,000 participants registered, and the strength of the game was also highlighted by the re-signing of our long-term commercial partner The National Bank,” he added.

 

Revenues for the year were $44.64m, compared to revenues for the previous year of $42.57m.