UK Athletics Reports Return to Profitability After Six Years
LONDON – UK Athletics (UKA) has announced a return to profit for the first time as 2017,marking a notable turnaround for the governing body. The financial recovery follows a period of cost-cutting measures, including redundancies and reduced program support, implemented over the past two years.
The achievement signals progress in stabilizing the organization, which has faced financial headwinds stemming from reduced public funding, rising costs, and a challenging on-track performance at recent international competitions. While acknowledging the positive step, UKA officials emphasize that work remains to address accumulated deficits and rebuild financial reserves.
“I am very pleased that we are back in profit,” said UKA Chief Executive Officer Jack Beattie. “It’s an critically important moment for UK Athletics and a real sign that the steps we have taken over the past two years are working.”
the turnaround comes despite a arduous showing for the UK team at the World Championships in Tokyo earlier this year, where they failed to secure a gold medal. The team’s medal haul included a silver for Jake wightman, Amy Hunt, and georgia Hunter Bell, and bronze medals for Katarina Johnson-Thompson and Keely Hodgkinson.
Beattie cautioned that the organization’s financial recovery is ongoing. “None of this means the job is done. we are still working to reduce our accumulated deficit, rebuild reserves and manage the challenges of reduced public funding and rising costs. But this is a turning point – the start of a new chapter for UKA.”
