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World Cup fuels record CA surplus

AGM reveals net surplus of $99 million for past financial year

The highly-successful World Cup has helped Cricket Australia bank a net surplus of $99 million in the previous financial year.

CA held its annual general meeting at the MCG on Thursday, when outgoing Chairman Wally Edwards, who is stepping down after 19 years of service, revealed revenue increased from $295.9 million to $380.9 million thanks to the one-day tournament.

The World Cup generated more than $1.1 billion in direct spending and more than 8000 jobs across Australia and New Zealand.

Cricket Australia also received $51 million for its share of the 2015 ICC Cricket World Cup host net profit.

"It is one of the great financial years for Cricket Australia. Let's hope there are many more to come like it," Edwards said.

"It was the greatest World Cup ever."

Cricket Australia chief executive James Sutherland said the strong result this year will help offset upcoming summers of more modest returns, while also allowing Cricket Australia to invest in important strategic projects and boost its reserves.

"The World Cup was easily the biggest sporting event this country has seen since the Sydney Olympics and has left a positive legacy for cricket in Australia," Sutherland said. 

"We plan to build on that legacy with closer engagement across a wide range of Australian communities from non-English-speaking backgrounds, particularly at one-day international and BBL matches." 

Cricket Australia outlined long-term investments of $66 million resulting from the unprecedented World Cup boon, with a major focus on women and girls' cricket.

CA will also invest in the diversity of cricket; the upgrading of turf and synthetic wickets for clubs and better development programs for players, coaches and umpires.

The organisation is projecting $1.32 billion revenue from 2013-14 to 2016-17, up from $736m in the previous four-year cycle.

The AGM heard that 1.5 million people passed through the gates for the Australian summer of international and domestic cricket, and another one million attended the 49 World Cup games in Australia and New Zealand.

The World Cup included 20 sell outs and a record crowd of 93,013 for the March 29 final at the MCG.

The summer's action was also followed fanatically online, with more than 12.7 million fans logging on to CA's digital properties.