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The reigning wooden spooners just turned a 3 million dollar profit

I Bleed Maroon

Referee
Messages
23,147
The off-field performance of embattled NRL club the Brisbane Broncos continues to improve with the company forecasting a pre-tax profit for the June 30 half year of $3.17 million.





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The Broncos off-field performance is improving (Photo: AAP Image/Darren England)
The company’s share price has also picked up as management of the club has changed, but the team languishes at second last on the ladder within only a handful of wins.


The forecast profit compares to earnings in the pandemic-restricted 2020 first half of about $20,000, but the club warned that investors should not take the first half result as indicative of how it will perform over the full year.


It said the pandemic and its impact on crowds made forecasting impossible.




The Broncos said the boost came from the return of game-day crowds. The average for the six home games during the period was 22,691.


“Sponsorship revenue increased 25 per cent on the comparative period, reflecting the ability to deliver game-day and associated benefits throughout the 2021 season,” the club said.


“The support from our sponsor family has been exceptional.”


However, the club faced increased stadium operation expenses as well as player salary costs.


“It is anticipated that the evolving situation with respect to the impact of the COVID-19 outbreak on the NRL competition and the Brisbane Broncos will continue to create uncertainty for the remainder of the 2021 season,” the club said.


“Together with the NRL, clubs are working through scheduling, funding and game day logistics for future matches to ensure the competition can continue in a modified format.”


It said revenue and costs could continue to be affected by these issues and it could not accurately predict the impact on the full year profit.


Seriously, are you merkins even trying? You really need to wake up and smell the money. Even when the club is comfortably at the lowest ebb in its history on field, the members and fans keep on turning up.

......Nah I'm trolling. This is actually a bad thing. Reigning wooden spooners? Second last on the ladder? No worries here's 3 million dollars in profit (pre-tax).

No wonder this club has allowed complacency to set in so deeply. The great unwashed just don't treat them with the sort of accountability they should be treated with. If this were the National Marketing League we would be premiers every year.
 

Perth Red

Immortal
Messages
44,455
Interesting their profits are up on 2019 despite crowds being significantly down. Either they've cut costs significantly or they must have some very good sponsorship deals this year. They made a profit of $3.3mill for the full year in 2019 (pre covid impacts).
(They had a full year loss before tax of $470k for covid effected 2020)

the Broncos normally have a football club generated revenue of over $20mill more than most clubs at $45-50mill a year.
 

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