Somerset County Cricket Club have returned an outstanding set of financial results for 2013.

They recorded a pre-tax trading surplus of £468,703 – an increase of more than £59,000 on the results of the previous year.

On the back of these strong figures the club is steaming ahead with the redevelopment of the Old Pavilion, with work expected to start at the end of the 2014 season.

Chairman Andy Nash said: “These results are a continued demonstration of our business model working well and our readiness to proceed with the next substantial phase of the redevelopment of the County Ground to international standard.

“It also enables us to maintain our position as one of the highest investors of any club in our cricket squad.”

Nash paid tribute to everybody at the club who has played their part in enabling Somerset to become so successful, both on and off the field of play.

He added: “On behalf of all our members I should like to pay tribute to the outstanding work of all my colleagues at the club – on and off the pitch – whose collective efforts have achieved another stunning set of results.”

Honorary treasurer Malcolm Derry highlighted some of the areas which had been successful during 2013.

He said: “This has been another superb year for the club with total income up by 5% from last year. “The Australia match, combined with good weather and strong T20 attendances were significant contributors to this impressive performance.

“Direct income from membership and gate receipts showed 12% growth on 2012. “While all income categories delivered results in excess of budget, particular mention should be made of catering and commercial departments who both exceeded targets by a considerable margin.”