LTA posts first operating profit for four years
The Lawn Tennis Association has declared its first operating profit for four years but warned of uncertain times ahead due to the impact of the coronavirus pandemic.
The LTA’s finance and governance report for 2019 revealed a profit of £8.7million, in contrast to a £6.3m loss the previous year, albeit significantly bolstered by its income from the Wimbledon Championships.
The tournament’s cancellation for 2020 is set to deny the LTA its biggest single source of funding, but its chairman Lord Mervyn Davies expressed confidence in the organisation’s ability to weather the blow.
Davies wrote: “It is too early to fully assess what implications the pandemic will have on tennis in Britain, but the financial governance measures we have in place will help ensure we are in the strongest position we can be to address the challenges that may come.
“Our goal will be to provide the right support, for the right people, at the right time, so that tennis in Britain emerges from this period in as strong and healthy a position as possible, and the sport is able to resume its unique role in keeping the nation active.”