Kent have announced losses of more than £800,000, an increase of £110,000 on the previous year, but insist the playing budget will not be cut.

The figures for the 12 months up to 31 October 2009 show two pop concerts staged at the St Lawrence Ground incurred losses of £190,000.

But their gate receipts were up by almost 30%.

Treasurer Simon Philip has blamed the losses on the "continued delay of the club's redevelopment scheme".

He added: "The most difficult trading conditions for generations have wreaked havoc on our finances.

"Lessons clearly need to be learned from the sorry tale of the past few years.

"A five-year financial plan, which accepts that it may be some time before healthy economic conditions return, is now being constructed to make sure we get the balance right. Managing this balance will not be straightforward."

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