ST. JOHN’S, Antigua– Cricket West Indies (CWI) has today unveiled its Annual Report and Audited Financial Statements for the fiscal year 2022-2023, following the Annual General Meeting (AGM) held in Antigua on Saturday 23 March 2024. CWI recorded revenues of US $62.3 million and net income of US $14.25 million for the year ending 30 September 2023.
Dr. Kishore Shallow, in the President’s Message, commended the collective strides made over the period, stating, “As we look back on the past year, I applaud the tremendous progress we have achieved together. The credit is yours, as through our unified efforts, we have made much progress. I am equally confident that our journey promises even greater rewards if we maintain this path.”
President Shallow also expressed enthusiasm for the upcoming ICC Men’s T20 World Cup 2024, highlighting its potential economic impact of over US $300 million for the Caribbean. He noted, “The excitement around hosting the ICC Men’s T20 World Cup 2024 resonates with us at Cricket West Indies. This is a remarkable opportunity for the Caribbean. CWI stands ready and well-positioned to make the region and cricket world proud of a magnificent spectacle in June.”
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Reflecting on the financial year in review, Chief Financial Officer, Kebra Nanton acknowledged the continued strengthening of CWI’s financial position, noting, “We are delighted to announce further significant improvements in our financial standing as we continue the transformational change in our organisation. Having successfully reversed the deficit of over US $2 million, which was over US $23 million in 2021, we now record a surplus of US $12 million. Furthermore, our forecast for the end of 2024 anticipates our surplus exceeding US $20 million. This achievement lays a solid foundation for our sustainability over the next four years.” Nanton further added, “By fortifying our financial position through increased retained earnings, we have bolstered our ability to navigate future challenges.” CWI’s financials underwent rigorous auditing by Grant Thornton, Antigua.
The interactive Annual Report also includes sections on Cricket, Fan Engagement, and an Honors List showcasing accomplishments over the year. To view the full report and the audited financial statements, click here.
