Richmond record an operating profit of $51,000 and net profit of $2.75m

[one-eyed]

From today's Age...


Richmond is expected to record an operating profit as it consolidates an improving financial position.

Melbourne and the Western Bulldogs have bucked expectations and will record profits this year despite the on-field disappointments that saw both clubs part ways with their respective coaches.

By contrast, St Kilda, which like the Bulldogs endured the disappointment of an on-field drop from years of top-four finishes, has already forecast a loss of between $1.5 and $2 million given the financially onerous deal to play at Etihad Stadium and a split with its coach.

As football's annual version of the profit-and-loss season kicks off, North Melbourne is the only other Victorian club confirmed to be about to announce a loss for football's financial year to the end of October.

Collingwood and Hawthorn have both announced more multimillion-dollar profits, while Geelong, Essendon and Carlton are expected to record strong profits this year.

Port Adelaide has already been financially bailed out by the AFL this year and the league has been in negotiations with Brisbane over its poor financial state. The Crows too were reportedly confronting an unusual financial loss for a second consecutive year.

Read more at: http://www.theage.com.au/afl/afl-news/dees-bulldogs-see-red-on-field-black-on-books-20111120-1npc3.html#ixzz1eG8qwmdQ

[WilliamPowell]

As with all these profits - it will be interesting to see what the Dogs & Demons "profit" is after you take out the $1 mil plus they both receive from the AFL

Last year for memory the Dees made about $200k but that included $1.2mil or something from the AFL so that actually means on their lonsome they made an opearating loss 

[one-eyed]

Tigers post operating profit
richmondfc.com.au
3:18 PM Wed 23 Nov, 2011


The Richmond Football Club has recorded an operating profit of $51,000 - excluding fundraising, gaming and government grants - for the financial year ending October 31.

In reporting the operating profit, the Club confirmed it had reduced its debt by $1 million, from $4.5 million to $3.5 million.

The Club’s net profit was $2.75 million, with its net asset position improving from $13.3 million to $16.05 million year on year.

“We continue to make solid progress in line with the targets we have set ourselves as a Club,” said Richmond president Gary March.

“We recorded an operating profit and reduced our debt by $1 million. We have made provision for the redevelopment of Punt Road Oval - a critical investment in football - heavily increased football department expenditure, and delivered a record membership on the back of the most loyal supporter base in the game.

Read more at: http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/126402/default.aspx

[WilliamPowell]

Tigers post operating profit
richmondfc.com.au
3:18 PM Wed 23 Nov, 2011


The Richmond Football Club has recorded an operating profit of $51,000 - excluding fundraising, gaming and government grants - for the financial year ending October 31.

Would like to see the actually numbers (all the debits & credits) that make up profit so I can analyse them 

They dont seem to be available yet

Although I am not sure on the surface why the gaming stuff is being excluded from the operating profit number, certainly understand the Govt grants & FTF $$$ but not the gaming, lack of consistency on the surface based on what's gone on in the past

Show me the numbers RFC 

[yellowandback]

Record membership, a number of sponsorships, decent attendances, new stadium deal (do we get the benefit this year) - on surface I'd say a poorish result by the club.
I'd like to see revenue and the relative increase vs ya and then the increase in football dept expense along with salary cap - if we only paid 92% that'd be a worry

[bojangles17]

Not sure whether to laugh or cry about this result...as mentioned above, with rising membership, solid attendances and full book of sponsors why the meagre profit. now Im no accountant but I thought that 1mn dollars of debt that has now been retired was funded from FTF , stand to be corrected on that. if all this is right, I can only assume with this added expenditure on footy department we barely managed to keep our heads above water

[Mr Magic]

I'm also surprised.

What about the money the AFL gave us? Is that included in this figure???

[Loui Tufga]

I'm also surprised.

What about the money the AFL gave us? Is that included in this figure???

What money did the afl give us?

[Mr Magic]

I'm also surprised.

What about the money the AFL gave us? Is that included in this figure???

What money did the afl give us?

http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/124163/default.aspx

My mistake it's to be given to us over the next few years.

[WilliamPowell]

Been thinking about this "profit" a bit more driving into work this morning (do some of my best thinking while I am driving  )

And the accountant in me is saying I really need to see the numbers because something isn't sitting right re the "operating profit" 

Mr RFC_O where are the numbers 

[JVT]

I'm also surprised.

What about the money the AFL gave us? Is that included in this figure???

Any handouts are included in the overall $2.75 million net profit.

The $51,000 is purely on operating costs. I don't think this is a bad result, when considering we have increased our spending in the footy department and still manages to make an operating profit before the handouts etc.

I will wait for Willy Powell's summary of our position, some things are best left to the experts 

[tony_montana]

does that operating profit include the selling of home games to darwin and Cairns?

Is the FTF the money that wiped the debt or was it the sale of the sold home games? if it the ftf funds and therefore only made that small operating profit incluyding the sold home games then that makes the decision to gift away our darwin game to the dees next year even more frustrating

[WilliamPowell]

The $51,000 is purely on operating costs. I don't think this is a bad result, when considering we have increased our spending in the footy department and still manages to make an operating profit before the handouts etc.

And money we received (eg the funding we get for our stadium deal) would be included in the operating profit, just like the money we received for the games we sold.

I will wait for Willy Powell's summary of our position, some things are best left to the experts 

OMG the pressure 

Seriously though right at the minute the bit that doesn't sit comfortable with me is the exclusion of the gaming side of things from the operating result. Need to see the numbers and read the appropriate notes in the accounts to understand their logic here

But every other year this has been included as part of our "operations" therefore it's been included in any operating profit or loss the club has made. Seems very strange to me that we are excluding it this year from the "operating profit".

There are couple of other things that I am perplexed about but in fairness to the club I will wait until I see the numbers and their break up until I make any comment 

[WilliamPowell]

does that operating profit include the selling of home games to darwin and Cairns?

Is the FTF the money that wiped the debt or was it the sale of the sold home games? if it the ftf funds and therefore only made that small operating profit incluyding the sold home games then that makes the decision to gift away our darwin game to the dees next year even more frustrating

TM see above but yes the operaiting profit would include the monies we received form selling those games

The money from the FTF retired the $1mil in debt not the selling of homes games

As I also said above in fairness to the club I would like to see the numbers first before I make to many comments (read judgement) on the overall results 

[gerkin greg]

Seriously though right at the minute the bit that doesn't sit comfortable with me is the exclusion of the gaming side of things from the operating result. Need to see the numbers and read the appropriate notes in the accounts to understand their logic here

But every other year this has been included as part of our "operations" therefore it's been included in any operating profit or loss the club has made. Seems very strange to me that we are excluding it this year from the "operating profit".

Could it be that they have decided to look at gaming as a sort of false income going forward in anticipation of pokie reforms? Or something.