The Sri Lankan cricket board has announced a net profit of 2.12 billion SL rupees, ($14 million) in the year 2017.
This is a 33-time jump over the mere $405,400 (SL rupees 64 million) profit made by Cricket Sri Lanka last year. This is the first time in last 8 years that Sri Lanka Cricket’s liquidity level has turned positive.
A full series at home against India is believed to be the main reason behind Sri Lankan cricket board increasing its net profit, though in an official statement, the board said, “this was a result of SLC’s strategic growth plans and prudent financial management”.
– Net income rose to SL rupees 2.12 billion in 2017
– Gross Income jumped to SL rupees 6.19 billion in 2017 (highest in the history)
– Liquidity turns to a positive of Sl rupees 1.97 billion in 2017
– Cash and Cash equivalent in 2017 records a sum of SL rupees 2.4 billion
During the year 2016, the liquidity levels of the SLC stood at a negative of SL rupees 572 million, while in 2015, it was around a high of SL rupees 985 million; with its worst year being the year 2011, which amounted to a negative of SL rupees 4.25 billion.
In the meantime, SLC’s net income ( Net Profit) rose to SL rupees 2.12 billion during 2017 compared to just a mere SL rupees 64 million earned a year ago. This is a 33-time increase, year on year and was a result of SLC’s strategic growth plans and prudent financial management, the release stated.
Whilst its income for the year 2017, recorded a sum of SL rupees 6 billion, the highest in the institution’s history, this is almost a 100% rise from the previous year’s income.
Cash and Cash equivalent jumped to SL rupees 2.4 billion during the year 2017, from SL rupees 410 million recorded in 2016 and just SL rupees 117 million recorded in 2015.
SLC has also managed to bring down its liabilities from around SL rupees 4 billion stood at 31st December, 2015 to SL rupees 1.3 billion as of present. This was achieved owing to SLC’s present administration’s prudent financial management.
Sri Lanka Cricket’s investment on Domestic Tournaments rose to SL rupees 464 million in 2017, compared to SL rupees 241 million invested in year 2016, whilst investment into Cricket and Development during the year 2017 increased to SL rupees 724 million from SL rupees 584 million invested in 2016.