Royal Welsh Show records healthy profit

The 2008 Royal Welsh show attracted 236,000 visitors and made a near record profit of £370,228, show organisers have revealed.

Royal Welsh Agricultural Society chairman David Lewis said that the two other major events staged by the society last year also generated good profits.

The Winter Fair made a record £107,251 surplus and the Smallholder and Garden Festival returned a £14,341 profit.

Mr Lewis also announced that a new £1.5m Food Hall would be ready for the 2010 show.

But Mr Lewis reported that the society’s investments had been hit by the credit crunch and showground maintenance costs.

These factors coupled with high levels of depreciation had reduced the overall surplus to £183,293.

He described the figures as encouraging, and the end of year result as an achievement in which the society could take pride.

“However, we have now entered a new era of economic uncertainty and do not expect to avoid unscathed before the date of the next annual report in 2010,” said Mr Lewis.

“The credit crunch and its dire effects on commercial business and almost every member of the community are certain to be detrimental to the society during the current year.”

Income from sponsorship, which stood at £412,018 last year, was certain to suffer and the society’s financial resilience would be tested.

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