Swalec's �1.5m sponsorship of its stadium has helped increase profits

Glamorgan Cricket has recorded its first reported profit since 1999.

The club made a �14,688 profit for 2007 against a 2006 loss of �81,102 after a summer of stadium construction and bad weather affecting its Twenty20 matches.

Operating profits came in at �268,500 against �81,887 with turnover up to �3,142,824 up from �2,989,103 over the same period.

It also recently signed a 10-year, �1.5m stadium naming rights deal with Swalec which will further boost income.

Other deals with The Really Welsh Company and Paramount Office Interiors are expected to increase sponsorship income from �90,000 back in 2005 to a projected �1.1m for 2008.

Finance and commercial director Alan Hamer said: "It is pleasing to report an upturn in our financial performance.

"Not only is our income increasing, but the club is now generating cash flow for the first time for a number of years."

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The club's Sophia Gardens ground is to be renamed the Swalec Stadium after the sponsorship deal with the energy firm.

It hopes the �9.5m redevelopment of the Cardiff venue and the improved facilities will help increase Glamorgan's already thriving conference business.

The work will see the ground's capacity increase from 5,500 to 15,643 and an improvement in its overall facilities which will add to the club's thriving conference business.

The stadium is set to host this year's NatWest One-Day International between England and South Africa with 70% of the tickets already sold and hospitality packages close to being sold out.

It will also host an Ashes Test between England and Australia in 2009, an honour which it gained ahead of the likes of Old Trafford and Durham's Riverside Stadium.

* Glamorgan Cricket's Annual General Meeting takes place at 7pm in the Extra Cover Lounge at the Swalec Stadium on 27 March.