Okay so I ducked into the Leagues club yesterday afternoon to get a printed version of the 2012 Annual report. Maybe it is just my eyes but the grey font with gold lines on white on the online representation made it a little hard for me to read.
So some important numbers.
The Clubs Revenue is $68.4M and change.
$12.6M is spent on Poker Machine Duty, that is down from last year’s $13M and is still the second biggest expense at the club behind employee benefits (as in paying our employees). Would be nice to have that back in our pockets.
We have a drop in Assets of about $4M, most of that in current assets with 1.2 million less in cash and 1.1M less in trade and 1.75M less in Assets held for sale. We look to have sold an investment property for around $350K as we have less in Investment properties.
We have repaid 5.9M in borrowings over the last year, have seen an increase in provision for borrowing and deferred income.
Important Rugby League notes.
Merchandise Sales 1.48m Down from 1.51M
Gate Ticket Sales 2.6M up from 2.5M
Sponsorship 5.59M Up from 5.45M
NRL Grant 4.375M up from 3.683M
Total from NRL operations (Income before expenses) * Taken from these numbers 14.08M
Grant for Football Club $860K
Bulk of our income is $47.7M in Poker Machine Revenue.
Notes that might upset some people.
Key Management Personal Disclosures.
No transaction made with Peter Kelly Flooring this year (last year 40K)
Restaurant ingredients - La Piazza Restaurant 39.4K up from 28K last year.
Meat and Raffle Trays - Grothe Meat and Raffle Trays 37K
Overall the club looks to be trading profitably, which is always good news, the further increase in the NRL clubs grant along with a new sponsor coming on board that if all reports are correct will be an increase on our current 1M a year deal with Pirtek will be good news.
Chairman Spagnolo’s report suggest a future expansion over the next 5 years that will see a multi-level car park creasing the capacity to over 1000 cars, an integrated expansion focusing on commercial space and improved members facilities and a start of the art high performance sport facility.
That's what I got, as people were waiting for my report, have at it.
