CSA announce huge profit

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Cricket South Africa have announced a profit of R199 million for the 2013-14 financial year.

Cricket South Africa have announced a profit of R199 million for the 2013-14 financial year.

The hefty sum was revealed at CSA's annual general meeting in Johannesburg on Saturday.

"We are extremely satisfied with the results especially in the light of the unfortunate curtailment of the indian tour," said board president Chris Nenzani.

Broadcasting revenue, International Cricket Council distribution, exchange rate gains and careful cost management were listed among the key factors behind the increase.

"Regrettably some media reports are patently false to suggest that CSA incurred a loss when we only fell short of our targeted profit by a mere R18 million," added chief executive Haroon Lorgat.

Head coach Russell Domingo and team manager doctor Mohamed Moosajee's contracts, meanwhile, have been extended to April 2016.

"Based on a presentation from the chief executive, the board expressed full confidence in the Proteas team management and unanimously approved the lengthened tenures," read a press release from CSA.

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