by Alex Hoad

@AlexHoadKOL

Kent County Cricket club's long-awaited financial figures for the year to the end of October 2012 have revealed a loss of £628,000.

The club's financial results were widely expected to be disappointing, but they did show their loss for the year before interest, taxes, depreciation, and amortisation was £272,294 - actually an improvement of £113,000 on the losses reported in 2010–11 – not including one-off ECB fee payments of £800,000.

It is actually the fourth successive year the EBITDA figure has improved since losses of more than £640,000 in 2009 and privately left officials feeling the club is moving in the right direction, even if it is slower than hoped.

The overall post-tax loss for the year was £628,054, despite the net profit from the sale of the "groundsman's house" at the St Lawrence Ground in Canterbury.

A release from the club on Monday described the figures as "superficially disappointing", but added: "To have made progress in the wettest summer for over a century, which led to the club suffering the lowest gate receipts since 2004, members and supporters should be reassured that the club’s long-term plans remain on course.”

Among the factors blamed for the difficult year were the reduced T20 competition, the competition of Euro 2012 and the London Olympics and bad weather.

The report predicted the current financial year will see improvements as money from sources such as catering and rent at the Canterbury site – including Sainsbury's – and cost-cutting elsewhere in the business take effect.

Chief executive Jamie Clifford (pictured) said: "We had expected to close the operating loss quicker than was possible last year, but it has to be remembered that it was an exceptionally bad year weather-wise.

"We put together a long-term financial plan for the Club in early 2011 and we remain on course. With activities over the winter months and our plans for this summer, we expect further improvements during 2013."

The club's AGM will be held on April 22 at the St Lawrence Ground, while club members will receive the financial accounts and report in the coming days.