5th Consecutive Profit

[Demonland 73,216]

 

[RedsoxMan 144]

1 hour ago, Demonland said:

I thought the profit would have been more since we played 2 semi final of over 90,000 fans.

Good to see we payed of $1.5M of Debt.

[darkhorse72 1,925]

Positive report 

[Deemania since 56 6,723]

8 hours ago, RedsoxMan said:

Good to see we payed of $1.5M of Debt.

Just the start, folks. More is coming without doubt. We are entering a 'dominance' phase for the competition - and the exciting brand of football that we play (the best at the moment amongst all the teams) will drive that success.

[Lucifers Hero 40,375]

Overall, it is a great result.  Jackson certainly left us in a very strong position: financial, staff, sponsors and football.  Hard to believe it all happened in just 5 years.  I have little doubt we will continue his work and be a really strong club again.

Edited November 27, 2018 by Lucifer's Hero

[Lucifers Hero 40,375]

9 hours ago, RedsoxMan said:

Good to see we payed of $1.5M of Debt.

I was a bit surprised by this as our debt position is quite reasonable. 

We save interest on the $1.5m and we can always borrow again but I thought we might conserve capital for 'our $ share' of new facilities cost - which is one of the reasons we sold Leighoak.

[Wells 11 5,432]

A good result, but without a home base this isnt going to last.  Has to be top priority now or we're going to be left behind...again. 

 

[Guest]

This is the last echo of the PJ era. 

Pert now needs to earn his salary. I hope he is up to it as he is stepping into some very big shoes.

[Mazer Rackham 14,971]

It's good barracking for a real football club.

[Its Time for Another 4,293]

Making a Profit is a headline that doesn't tell much of the real story of how the Club's going.

One of the big figures in there is a significant increase in the money being spent on the footy department. Interestingly one of the biggest increases has been taking over the operations of Casey. I didn't realise that was going on. Also the AFLW and VFLW teams have had a significant increase in expenditure. Interesting to see at what level this investment comes back. I guess the main income generator would be memberships. Wonder if AFLW memberships are included in the Club's overall membership. I assume they are. 

Great to see chunks being taken out of the debt. Still a way to go. 

 

$227,000 was spent on the new facilities project. Love to know what that was spent on but obviously it's getting very serious. If this wasn't spent then the profit would have been that much greater. In the coming years a lot will be spent on that project so the amount of the profit will be a bit irrelevant. 

I didn't look but up to last year the valuation of the Bentleigh Club has never been adjusted from the purchase price. It has to be worth a lot more now. 

 

There was a link to the financial report but it's been taken down.

[Deemania since 56 6,723]

5 hours ago, Wells 11 said:

A good result, but without a home base this isnt going to last.  Has to be top priority now or we're going to be left behind...again. 

 

You betcha. The MCG will no longer be hallowed ground without us, unfortunately. 

[Demon17 5,207]

4 hours ago, It's Time said:

Making a Profit is a headline that doesn't tell much of the real story of how the Club's going.

 

$227,000 was spent on the new facilities project. Love to know what that was spent on but obviously it's getting very serious. If this wasn't spent then the profit would have been that much greater. In the coming years a lot will be spent on that project so the amount of the profit will be a bit irrelevant. 

 

$1/4 mill buys a fair bit of precinct master planning and options development with costings. Serious investment at this early stage but gets the ball rolling.

[hemingway 7,633]

Outstanding achievement by Jackson and Co.

Not an easy task.

An increase spend on the footy department, improved performance on and off the field, and still able to show a profit.

Shows that Jackson and his team were smart strategic managers as well as capable administrators.

[DV8 2,271]

5 hours ago, Wells 11 said:

A good result, but without a home base this isnt going to last.  Has to be top priority now or we're going to be left behind...again. 

 

Being conservatives is an Anchor and Chain around our necks.  That finished off our Smithy, and it killed off "Checker's" fire & brimstone Demon's, and its snuffed out our spirit for 50+ years.  ... all be it for fleeting cameo''s here or there, but they too were snuffed out.

Stripping us, all the way back to plain old "Fuscia's" 

 

Now we have the chance to remember this...  see what happened to us back then... realise, and resolve to Never be conservatives at Footy... Ever Again.

... because it does hold us back behind the competition.   It's playing "Open Mise`re"  as a Footy club.

[Diamond_Jim 12,629]

Needs a little analysis and I am never sure where the broadcast money fits into the financial reports but at first glance we have matched Richmond's gross revenue figure for 2016 which at face value is a good result.

We had an operating loss which is not good and this loss was made good by income from discontinued operations (presumably pokies).

The headline item is that we now have  an increase in our cash on hand of $9M. On the other hand we increased our non current liabilities by $2.3M

PS: I see we extended a loan facility due in the 2017 FY for a period longer than twelve months so it was reclassified as a non current liability ... so no real change there.

The various changes in accounting treatment make the reports difficult to understand. For example in our 2017 report gross revenue is shown at $51M but in the comparison table in our 2018 report gross revenue for 2017 is shown as being $51M.  (These accountants do love the dark arts !!)

Edited November 28, 2018 by Diamond_Jim

[Moonshadow 17,677]

Meanwhile, over at Whitten Oval...

Bulldogs record $18m profit