Leicester Tigers' turnover reached a record £19.5 million in the financial year ended 30 June 2011 (2010 £18.5 million) and the Club's operating profit almost doubled to £559,000 (2010 £284,000).
On the field, Tigers reached the Premiership Final for a seventh successive year after again topping the Aviva Premiership table and the Development XV retained the Premiership 'A' League title.
Revenue on ticket sales rose by five per cent to £6 million and there was a significant increase in conference and events revenues, up 11 per cent to £1.1 million. New relationships were forged with leading brands John Lewis, Adams Foods, Chester Barrie, Crusha and most recently Kitbag, who have become the Tigers' official retail partner for the coming season.
Board and management changes
Managing Director, David Clayton, retired and stepped down from the board at the end of September. Simon Cohen, head of rugby operations, joined the board as acting chief operating officer and Tom Scott joined the board as a non-executive director with immediate effect.
The board intends to further strengthen the senior management team by appointing a chief executive and a search is already underway for a suitable candidate to fill this important new role.
Executive chairman Peter Tom CBE said: "It has been another successful year for Leicester Tigers. The growth in turnover and increased profits reflect the commitment and hard work of everyone at the Club, as well as the standing of the Tigers and its relationships with investors, sponsors, commercial partners, season ticket holders and all our supporters. I would like to thank everyone involved for playing their part in our success, not just in the last 12 months, but over many years.
"I would also like to take this opportunity to welcome Tom Scott to the board and look forward to his input as a successful businessman and long-time supporter of Leicester Tigers. Tom is also a major investor in the Club.
"David Clayton has been at the Club for 12 years, firstly as Commercial Director and, for the majority of his stay as Managing Director. He has made a major contribution to the Club's growth and development during that time. On behalf of the board, I would like to place on record our thanks and appreciation for his work over such a long period. During his time at Leicester Tigers, the Club has grown from a modest turnover of £4 million in those early years of professional rugby to the record level we report today. I am delighted to say that David has agreed to continue his involvement with the Club in an advisory and consultancy capacity."
"It is encouraging that our turnover is now nudging £20 million, but we have no intention of standing still and see this as just another step in the continued development of the Club.
"World Cup years are always difficult, both on and off the field, and we cannot escape the impact of a weak economy. These two factors will have an inevitable impact on revenues and profits in the current year. However, we continue to look to the future with confidence and remain committed to retaining our position as the UK's premier professional rugby club."