Annual Report

[PJ]

The Annual report is up on the Official Website and worth a look, especially with the AGM and elections coming up.

Haven't had a good look but it seems OK. Made a profit but the cash flow was negative, so I'm not sure what's going on there.

The other major point is just how reliant the club is on Pokies. Kakes up over 60% of our revenue.

 

[Jimbo]

There's a big increase in property, plant and equipment, which is probably the renovations. This might explain why the cash flow is negative, but I'll have a closer look on the way home.

Things I like:

* Turnaround in NPAT from a $182k loss to $787k profit, this is almost a $1m improvement.
* Increase in sponsorship of $230,000 as well, which does not include the further increase in sponsorship/corporate packages/season seats we have had for this year.
* Total retained profits of $14 million.

Something I didn't like as much:

A claim for damages has been made by the Football Club’s former NRL coach in relation to wrongful termination of his contract by the Football Club. The
Football Club has formally rejected the claim. Advice from senior legal counsel is that the Football Club will more than likely be successful in defending any
litigation arising from the claim. The amount of any claim will only be determined once more particulars are received from the former coach.

Here's hoping :roll:


I haven't had a thorough read just yet, but at a glance it looks good.

 

[Macca]

I like that profit margin.

 

[Tadpole]

I havnt had a look at it yet, but just a quicky, does that include depreciation of assets in that profit?

Its the way some organisations do things to make their books look a little better ;-)

 

[The Popper]

Probably the reason they put the AGM back. A$700K< result is pretty good. Could counter negatives regarding last seasons stuff ups. And maybe that's what the Board were hoping for. Much letter than the $180K< loss from last year.
Still it should be considered:
- Financial Statements can hide a multitude of sins (oops, sorry, Mac). Although, IMO the Sharks appears on the surface to be all above board and pretty easy to understand. The result and the layout are a credit to the Club and the Board
- St.George made $4m over the same period, but they don't have the borrowings the Sharks have. Haven't seen Manly's or any other club's as yet. And I'd love to see the Roosters.
On a minor note, Game revenue and merchandise sales were down. This reflects the fickle nature of fans when their team isn't winning. Related Bar and catering income is down too.
On the surface - welll done, Board.

 

[Foz]

Sounds like the board did a good job. Well done if thats the case. You have to give credit where credits due so to speak.
I hate to bring it up (not really) but it might help pay someone out.

 

[Alan Shore]

Not bad actually, that'd have to be one of the more solid profits of all the NRL clubs.

How far are they going in extending the Leagues Club? It needs a MAJOR overhaul, and more restaurants etc. We should promote coming to the club for dinner then heading to the game next door afterwards, and going to the club for a drink afterwards etc.

 

[Opes]

When I went down to Sydney for the grand final last year, I went over to the Shire to check out the club and have lunch (Had me a "Peachy Parmigana", was farkin great fodder). The club actually looks very nice, but as Tamazoid said, an expansion would be nice I remember seeing the pokies room though, one of the largest rooms in there, and plenty of people on the pokies, even though it seemed to be empty ...

* Total retained profits of $14 million.

I thought I read somewhere we were near the lower profit teams... or was that relating to if/when the pokie tax was introduced?