2024 ANNUAL REPORT

35 TREASURER’S REPORT In my Treasurer’s report to the 2024 AGM, I noted the importance of Men’s Test Matches to our financial performance. PAU L E L L I S TREASURER’ S REPORT As the Chief Executive said at last year’s AGM, although it is now part of an ever-broadening mix, men’s red-ball cricket remains a funda- mental part of our club’s DNA – and its importance was certainly reflected in our year-end position. Our financial results for 2023-2024 show a pre-tax surplus of £0.64m, which represents a significant posi- tive uplift against budget. This was a considerable achievement given our business environment remains challenging in a number of areas. There were a number of income lines that were negatively impacted, but we can also can point to some key positive factors over the season that ensured that our position is stronger than it might have been. Last summer, we hostedWest Indies Men during the height of the season, and benefited from a Thursday start for just the second time in 12 years. Advance sales were strong and the secondary spend surpassed our forecast.This fixture, which was alone amongst last summer’sWest Indies Tests in running to four full days, was coupled with our hosting of Australia Men for an ODI.Whilst the late-September scheduling was less favourable for the latter, tickets sold out well in advance. July also welcomed the return of The Hundred, a format which continues to deliver a significant positive financial impact.While scheduling was perhaps less than ideal in 2024 – with threeWednes- day fixtures for Trent Rockets out of four home matchdays, and three matchdays taking place in the space of seven days – gross ticket revenue still saw a small increase from 2023. The Vitality Blast, by contrast, endured a difficult year across the country. Even in London where sales are traditionally strongest, societal changes such as the increase in home-working are altering cus- tomer behaviour and this is particu- larly notable in the capital. An unusually cool and wet start to the summer was a primary reason “LAST SUMMER, WE HOSTED WEST INDIES MEN DURING THE HEIGHT OF THE SEASON, AND BENEFITED FROM A THURSDAY START FOR JUST THE SECOND TIME IN 12 YEARS. ADVANCE SALES WERE STRONG AND THE SECONDARY SPEND SURPASSED OUR FORECAST.” Paul Ellis