Richmond makes $2.32 million profit in 2023

[one-eyed]

This profit was generated from a revenue base of $106 million.

As stated below, it should be noted that excluding the contributions towards the Punt Rd redevelopment then the operating profit is much smaller ("very modest") than the headline figure.

[one-eyed]

[one-eyed]

https://resources.richmondfc.com.au/aflc-rich/document/2023/11/22/579ee1c5-928b-4d36-9b1f-b16fb709942d/2023-Financial-Statements.pdf

[WilliamPowell]

A turnover of $105million is amazing. To think prior to 2017 we were turning over around $40mil

I got the full financials in my inbox late last night and I haven't read or studied them in detail yet.

The only comments I will make on the results now are:

1/ while the Aligned Leisure business is generating great income it still worries me that it doesn't make a profit. This year income was $39 mil but the expenses are $41mil. Although I do note the expense lines says Health, Fitness and community. Does that mean the expense line also includes other community programs? I don't know but would be interested to know

2/ it's good that there is a comment around the profit that mentions that funding/contributions to the redevelopment has had a significant impact on the the profit. And that without those the profit would have been "modest". Hopefully it puts in perspective why the Club does some of the things it does despite us being one of the wealthiest Clubs on the comp

[one-eyed]

This Age article says the Pies' revenue this year - not counting government revenue and abnormal items - was $81 million.

https://www.theage.com.au/sport/afl/magpie-millions-collingwood-scores-6m-premiership-year-profit-20231123-p5emg2.html

[WilliamPowell]

This Age article says the Pies' revenue this year - not counting government revenue and abnormal items - was $81 million.

https://www.theage.com.au/sport/afl/magpie-millions-collingwood-scores-6m-premiership-year-profit-20231123-p5emg2.html

With govt revenue it is $86 mil

[Gracie]

This Age article says the Pies' revenue this year - not counting government revenue and abnormal items - was $81 million.

https://www.theage.com.au/sport/afl/magpie-millions-collingwood-scores-6m-premiership-year-profit-20231123-p5emg2.html

With govt revenue it is $86 mil

Centrelink payments???? 

[Hard Roar Tiger]

A turnover of $105million is amazing. To think prior to 2017 we were turning over around $40mil

I got the full financials in my inbox late last night and I haven't read or studied them in detail yet.

The only comments I will make on the results now are:

1/ while the Aligned Leisure business is generating great income it still worries me that it doesn't make a profit. This year income was $39 mil but the expenses are $41mil. Although I do note the expense lines says Health, Fitness and community. Does that mean the expense line also includes other community programs? I don't know but would be interested to know

2/ it's good that there is a comment around the profit that mentions that funding/contributions to the redevelopment has had a significant impact on the the profit. And that without those the profit would have been "modest". Hopefully it puts in perspective why the Club does some of the things it does despite us being one of the wealthiest Clubs on the comp

Not much point generating revenue if you are losing money.

[mightytiges]

1/ while the Aligned Leisure business is generating great income it still worries me that it doesn't make a profit. This year income was $39 mil but the expenses are $41mil. Although I do note the expense lines says Health, Fitness and community. Does that mean the expense line also includes other community programs? I don't know but would be interested to know

Barring 2018-19 just before Covid hit, our Health, Fitness and Community Groups category has made a loss most years. Both revenue and expenses have had a massive increase since added to the Club's financial reports in 2015.

           Revenue ($)    Expenses ($)
2015          53,921         933,794
2016     2,473,589       2,917,060   
2017     8,639,721       9,622,630
2018   14,237,718     14,160,181
2019   24,847,040     24,208,745
2020   17,849,104     24,322,020
2021   21,009,747     23,827,857
2022   31,131,118     32,526,370
2023   39,942,105     41,661,890

ps. I don't know either WP if the KGI and our other community programs are included in these numbers.

[Hard Roar Tiger]

It’s a white elephant

[Diocletian]

pee it off....