2008 was good year for Royal Welsh
The Royal Welsh show basked in the only week of summer sunshine in 2008, a blessing that enabled the Royal Welsh Agricultural Society to recover from the disastrous water-logged event of the previous year which caused its first deficit since 1974. In contrast, the 2008 show was one of the most profitable in the history of the society achieving a surplus of £370,228, the chairman of the board of management, David Lewis, revealed in his annual report to members.
The other two major events on the showground at Llanelwedd also returned creditable financial results, he said. The Winter Fair made a record surplus of £107,251 and the Smallholder and Garden Festival returned a profit of £14,341.
“There was a striking performance by our three major events in 2008 but the disappointing results of the society’s investments with valuation losses of £193,556 over the year due to the depressed state of the financial markets and the escalating costs of maintenance coupled with high levels of depreciation reduced the overall surplus to £183,293.”
Mr Lewis said the society’s profound gratitude was due to all those who contributed to the society’s success in 2008, not least the public who turned up at the show in near record numbers of 236,000 – the second best attendance at the Royal Welsh and a figure which included 69,839 on the second day of the show, the highest ever number for a single day at Llanelwedd.
“We were also generously supported by a new sponsorship record of £412,018 received in cash and in kind contributions, another splendid amount which clearly reflects the goodwill and high regard in which the society is widely held, said Mr Lewis.
“These are encouraging figures and they produced an acceptable year-end result for the RWAS, an achievement in which we can take pride. However, we have now entered a new era of economic uncertainty, the consequences of which we do not expect to avoid unscathed before the date of the next annual report in 2010.
“The credit crunch and its dire effects on commercial business and almost every member of the community is certain to be detrimental to the society during the current year.
“Without wishing to be too pessimistic about our immediate prospects the present state of affairs will doubtless test our financial resilience and our ability to steer a safe path through the recession. Our income from sponsorship is certain to suffer and none of our events will be immune to the results of belt-tightening by firms and individuals across the board.
“As chairman of the board, I and my predecessors, have continually emphasised how important it is for the society always to strive to maintain a positive financial situation by maximising the income potential at all times so that we are able to withstand setbacks which occasionally occur. Never has that policy been more necessary than it is today and the board is resolved to act prudently in guiding the society through any possible impending crisis.
“This warning to beware of tough times ahead may perhaps be tempered by the thought that many people will decide not to travel abroad in 2009. This, therefore, presents the society with a wonderful opportunity to attract many of these stay-at-home holidaymakers to the show and our other events at Llanelwedd and to demonstrate to them the great value for money we provide on the showground. I appeal to potential visitors from Wales and elsewhere, especially those who have not
yet been to our magnificent showground with all it has to offer, to join us in 2009. I guarantee you will not be disappointed.”
Referring to developments on the showground Mr Lewis said the board was anxious to complete the construction of the Food Hall in time for next year’s show. The feature counties of Carmarthenshire, Clwyd and Glamorgan had agreed that their feature county funds should be devoted to this much needed project which would play a vital role in promoting the quality of foods produced in Wales. Ceredigion, the feature county of 2010, had also decided to adopt the Food Hall as its feature county project. The restricted funds for this new development now approached £1m and it was hoped the total expenditure would be confined to £1.5m.
The society also intended to proceed with a new Montgomery Pavilion to provide a more comfortable facility for members visiting the show and a more useable building for conferences, seminars, meetings and other events in the out of show period. In 2006 Montgomeryshire raised £280,000 for the development and it would appear that a new or refurbished complex would cost in the region of half a million pounds.
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