Sussex have announced an operating profit of £343,000 for the financial year which includes the 2017 playing season.

The increase in profit from just £1,000 the previous year is largely down to extra funds received by all first-class counties from the ECB.

Although Sussex had a slightly disappointing season on the pitch, they were pleased with income from the Natwest T20 Blast and their tour match against South Africa.

The company’s total net worth stands at £10.16 million with no external debt.

Figures are for the financial year up to October 31 last year.

Sussex chairman Bob Warren said: “Given that, in general, finances in cricket remain challenging I am pleased that Sussex Cricket is continuing to ensure that the club’s finances are being managed in a responsible manner.

“This careful management, led by our treasurer Ed Putnam and the in-house finance team, means that we can continue to invest in our squads and our facilities.”

The results come despite an under-achieving season in all formats on the pitch and poor weather for much of the T20.

Last year was Sussex’s first under the guidance of chief executive Rob Andrew.

They are now aiming for progress on the pitch having appointed Jason Gillespie as coach.

Andrew said: “We are developing a longer term operational and financial strategy now we have greater visibility on our finances until 2024.

“We will continue to develop our own players where we can and feel we have a squad with a good balance of youth and experience.

“During 2018 we will also create a masterplan for the next stage of ground development at Hove.

“Over the medium term the club expects to make operating profits having budgeted for a deficit in 2018.”

Sussex today launched their ‘Blast from the past’ sales initiative for this term’s T20 with adults tickets on sale at the 2009 price of £18 throughout March.

Their financial results include the activities of Sussex’s charitable arm, the Sussex Cricket Foundation, which showed a small profit on the year.