THE WEST INDIES Cricket Board has reported net comprehensive income of US$3.4 million for the 2014/15 financial year.
In its annual report for the year ended September 15, 2016, the directors said this compares to a net loss of US$1.5 million in the prior year.
The Board’s revenue increased by US$6 million or 21 per cent and the directors said this resulted from the sale of new properties for the international home series and enhanced returns from the ICC Cricket World Cup.
The directors also pointed out that expenditure on tours and tournaments decreased by US$1 million “due to tighter controls over spending notwithstanding the launch of the Professional Cricket League which required an outlay of US$3.0 million in new spending”.
According to the report, expenditure on operating expenses decreased by USD$1.6 million or 14 per cent “due to tighter controls over spending and reduced provisioning required in relation to debtor balances”. (NB)
