| Year | Result ($ ‘000) |
| 2004 | (2,195) |
| 2005 | (44) |
| 2006 | 949 |
| 2004 | 2005 | 2006 | Improvement on | Improvement on | |
| ($ '000) | ($ '000) | ($ '000) | prior year ($) | prior year (%) | |
| Football operations: | |||||
| Revenue | 15,864 | 17,340 | 19,574 | 2,234 | 13% |
| Expenditure | (18,500) | (17,906) | (19.240) | (1,334) | (7%) |
| Gaming revenue | 105 | 326 | 450 | 124 | 38% |
| JDF revenue | 336 | 196 | 165 | (31) | (16%) |
| Net Profit /(Deficit) | (2,195) | (44) | 949 | 993 | 2,257% |
| $ ‘000 | Change | |
| Increase in football income | 445 | 10% |
| Increase in net membership income | 296 | 12% |
| Increase in net sponsorship income | 326 | 15% |
| Improved revenue from Licensed Clubs | 124 | 37% |
| Increase in match day income | 603 | 37% |
| Reinvestment in football department | (503) | 5% |
| Miscellaneous changes | (298) | |
| TOTAL | 993 |
| 2006 ($) ..... | .... 2005 ($) | |
| CURRENT ASSETS | ||
| Cash and cash equivalents | 1,471,030 | 1,008,827 |
| Trade and other receivables | 1,250,006 | 971,484 |
| Prepayments | 239,187 | 139,057 |
| Inventories | 110,347 | 140,070 |
| TOTAL CURRENT ASSETS | 3,070,570 | 2,259,438 |
| NON CURRENT ASSETS | ||
| Property, plant and equipment | 6,021,330 | 5,545,476 |
| TOTAL NON CURRENT ASSETS | 6,021,330 | 5,545,476 |
| TOTAL ASSETS | 9,091,900 | 7,804,914 |
| CURRENT LIABILITIES | ||
| Bank overdraft | - | 3,880,424 |
| Payables | 3,713,974 | 3,631,982 |
| Provisions | 197,945 | 200,166 |
| Interest bearing liabilities | 4,905,036 | - |
| Income received in advance | 435,039 | 223,846 |
| TOTAL CURRENT LIABILITIES | 9,251,994 | 7,936,418 |
| NON CURRENT LIABILITIES | ||
| Interest beanng liabilities | 22,824 | 1,000,000 |
| TOTAL NON CURRENT LIABILITIES | 22,824 | 1,000,000 |
| TOTAL LIABILITIES | 9,274,818 | 8,936,418 |
| NET ASSETS | (182,918) | (1,131,504) |
| EQUITY | ||
| Retained earnings/(accumutated losses) | (182,967) | (1,131,553) |
| Minority interest in controlled entities | 49 | 49 |
| TOTAL EQUITY | (182.918) | (1,131,504) |
| 2006 ($) .... | .... 2005 ($) | |
| Revenue from continuing operations | 25,840,319 | 23,481,022 |
| Employee benefits Expenses | (12,819,157) | (11,877,168) |
| Depreciation and amortisation expenses | (172,644) | (359,451) |
| Marketing and promotional expenditure | (2,743,502) | (2,548,025) |
| Materials purchases and match day hospitality | (1,542,420) | (1,384,244) |
| Administration expenditure | (620,776) | (585,535) |
| Borrowing cost expense | (478,003) | (400,032) |
| Property maintenance | (590,838) | (634,793) |
| Football support expenditure | (2,234,449) | (2,082,080) |
| Membership expenditure | (1,193,510) | (1,271,909) |
| Property lease expenditure | (1,166,018) | (1,086,724) |
| Other expenses from ordinary activities | (1,330,416) | (1,294,984) |
| Net profit / (loss) | 948,586 | (43,923) [/color] |
| 2006 ($) .... | .... 2005 ($) | |
| Total equity at the beginning of the financial year | (1,131,504) | (1,087,581) |
| Profit / (loss) for the year | 948,586 | (43.923) |
| Total equity at the end of the financial year | (182,918) | (1,131,504)[/b] |
| 2006 ($) .... | .... 2005 ($) | |
| Cash flows from operating activities | ||
| Receipts from football operations | 7,095,463 | 6,528,520 |
| Receipts from marketing operations | 12,056,540 | 11,576,804 |
| Receipts from gaming and social operations | 6,397,903 | 6,268,598 |
| Receipts from other operations | - | 11,758 |
| Payments to suppliers and employees | (24,135,560) | (24,129,681) |
| Interest received | 21,942 | 6,028 |
| Borrowing costs | (478,003) | (400,032) |
| Jack Dyer Foundation contributions | 139,254 | 195,723 |
| Net cash inflow / (outflow) from operating activities | 1,097,539 | 57,718 |
| Cash flows from investing activities | ||
| Paymnt for property, plant and equipment | (648,498) | (152,483) |
| Net cash Inflow / (outflow) from investing activities | (648,498) | (152,483) |
| Cash flows from financing activities | ||
| Draw down of commercial bills | 5,200,000 | - |
| Repayment of borrowings | (1,306,414) | (375,000) |
| Net cash inflow/(outflow) from financing activities | 3,893,586 | (375,000) |
| Net increase/(decrease) in cash held | 4,342,627 | (469,765) |
| Cash at the beginning of the year | (2,871,597) | (2,401,832) |
| CASH AT THE END OF THE YEAR | 1,471,030 | (2,871,597) |
| 2006 ($) ........ | ....... 2005 ($) | |
| Revenue from the continuing operations | ||
| Football | 7,095,463 | 6,528,520 |
| Sponsorship & Marketing | 12,185,757 | 10,833,045 |
| Gaming and Social | 6,397,903 | 5,906,990 |
| Interest | 21,942 | 6,028 |
| Jack Dyer Foundation | 139,254 | 195,749 |
| Other | - | 10,690 |
| 25,840,319 | 23,481,022 |
Re-investment in the Club's football department was certainly deemed necessary. The AFL’s 2005 Club Benchmarking Study showed that we ranked the lowest of all clubs' football department expenditure (excluding player payments).
The principle of conservative budgeting has again been reflected in the Club's financial plans for 2007. The Club's 2007 budget targets a lower profit than that achieved in 2006 as a result of the continued application of the following conservative parameters:
* Reducing our forecast match attendances from 2006 despite improving on-field results;
* No prize-money or bonus revenue;
* No increase in membership;
* No growth beyond CPI adjustments in key corporate revenues such as sponsorship, corporate hospitality, coteries, etc.