Sri Lanka Cricket makes Rs2.1bn profit in 2017, pays down debt
ECONOMYNEXT – Sri Lanka Cricket, said it had made a 2.12 billion rupee surplus in 2017, up from a 64 million rupees last year, with revenues doubling to 6.19 billion rupees, after turning around from financial crisis in 2015.
Sri Lanka cricket said it had paid down its debt, brining it down from 4.0 billion rupees from the end of 2015 to 1.3 billion at the end of 2016.
"This was achieved owing to SLC’s present administration’s prudent financial management," the cricket organization said in a statement.
Its cash position has improved to 2.4 billion rupees in 2017 from 410 million rupees a year earlier.
SLC’s revenues mostly comes from international advertising and television rights.
Sri Lanka Cricket had spent 454 million on domestic tournaments in 2017 up from 241 million a year earlier.
Investments into cricket development had also increased to 724 million from 584 million rupees, SLC said. (Colombo/May16/2018)