Tom Jones concert helps boosts Gloucester profits at the Green Green Grass of ’Holm
TOM Jones has helped push Gloucester into profit for the second year running.
The Welsh superstar singer’s sell-out Kingsholm concert boosted Gloucester’s turnover in the tax year 2011/12 – allowing the Cherry and Whites to record a pre-tax profit of £303,000.
Gloucester stabilised their books and returned to the black the previous year, turning a £10,000 profit over the 13-month period they registered in 2010/11.
In the previous financial year Gloucester restructured their loan on the Grandstand, freeing up considerable funds to reinvest into the coaching set-up.
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But it is events like concerts and conferences where Gloucester believe they can continue to thrive – ultimately for the good of the team on the field.
The directors’ report in this year’s accounts reads: “On a like-for-like basis turnover improved by eight per cent, with the major contributors to the additional turnover being concert and bar revenue.”
Gloucester are intent on finding ways to make Kingsholm a seven-day-a-week business.
The Cherry and Whites board realise that one home match a fortnight in isolation would leave the ground fallow on a financial front elsewhere.
So the club now use the ground’s facilities wherever possible – in the last two years that work has paid dividend, now evident in the financial reports.