Richmond makes record $3 million profit !!!

[one-eyed]

Richmond records record profit
richmondfc.com.au
3:28 PM Mon 19 Nov, 2012

The Richmond Football Club has recorded a net surplus of $3,017,742 for the financial year ending October 31, 2012.  The Club has now recorded profits for the past eight consecutive years and this year’s result reflects the strength in core trading activities.

In reporting the operating surplus, the Club confirmed it had also reduced its debt by in excess of $1.5 million, to $1.97 million.  Richmond has now reduced its debt by more than $2.5 million over the past two years.

The Club’s net asset position also improved from $16.05 million to $19.07 million.

Some of the key highlights, which have contributed to strong revenue and profit growth, include the following:

• Record membership revenue of $5.305m representing 53,072 members.
• Record sponsorship income of $3.452m.
• Significant improvement in the Club’s operations at the Wantirna Club.
• Secured pledges of $6 million through the Fighting Tiger Fund.

Read the full article here: http://www.richmondfc.com.au/news/newsarticle/tabid/6301/newsid/151326/default.aspx

[Phil Mrakov]

What's Caltons membership revenue ?

Reckon sponsorship revenue is a tad low

[one-eyed]

Richmond posts $3 million profit for 2011-12

    Staff writer
    From: Herald Sun
    November 19, 2012 3:59PM

ON-FIELD success is the final piece of the Richmond puzzle after the Tigers recorded a record $3 million surplus in 2012.

Richmond has now recorded profits for eight consecutive years.

Announcing the result today for the final year ending October 31, 2012, Tigers president Gary March said the club boasted record membership revenue of $5.3 million from its more than 53,000 members, and record sponsorship income of $3.5 million.

March said Richmond had cut its debt by more than $1.5 million in the past 12 months.

The debt has been slashed by $2.5 million in the past two years and now stands at $1.9 million.

“We have recorded a significant surplus, which has been built on the wonderful support of our loyal members and supporters, our business partners, along with a committed board and administration,” March said.

“We knew it would require a united effort to build the foundations for success, and never more evident has that been, than in the past two years. I particularly thank those, who provided such outstanding support to the Fighting Tiger Fund.

“While we will reflect on a very positive 12 months, nobody is under any illusion that there is still much more to do. We still have debt to clear and we need to continue to build this club’s financial resources, so we can support our football requirements into the future. I can assure you that we will be relentless in the pursuit of this goal.”


2012 AFL CLUB FINANCIAL RESULTS

Richmond: $3,017,742 profit

Hawthorn: $2,023,720 profit

North Melbourne: $1,193,080 operating profit

Other clubs to follow

http://www.heraldsun.com.au/afl/more-news/richmond-posts-3-million-profit-for-2011-12/story-e6frf9jf-1226516442343

[Mr Magic]

Tiger Army!

I'm getting that proud feeling again that I had as a kid.

[Phil Mrakov]

Tiger Army!

I'm getting that proud feeling again that I had as a kid.

I never lost that feeling

[yellowandback]

Is the FTF counted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the FTF?
I would just like to know the underlying health of our PnL post the one offs

[WilliamPowell]

I think there is a typo regarding sponsorship revenues 

Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs

Yes FTF must be counted in total revenues, therefore inplact on total profit

I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business

Wonder when the accounts will be available

Think it's important that they are consistent in how they report this stuff 

[yellowandback]

I think there is a typo regarding sponsorship revenues 

Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs

Yes FTF must be counted in total revenues, therefore inplact on total profit

I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business

Wonder when the accounts will be available

Think it's important that they are consistent in how they report this stuff 

Yep, cause getting $3m per year in supporter donations isn't sustainable....

[WilliamPowell]

Yep, cause getting $3m per year in supporter donations isn't sustainable....

I dont' think the FTF accounts for the entire profit

But certainly it is importnat to know of the $3mil "surplus" how much actually results from operations

[taztiger4]

be interesting to see how much of the $6M pledged has actually been received

[WilliamPowell]

Would just like to see the accounts

Don't want to be seen as being too critical until I do my review 

[yellowandback]

Would just like to see the accounts

Don't want to be seen as being too critical until I do my review 

Well we had $3m pledged last year and $3m this year along with the million from losing to GC over the past 2 years so I'm really looking forward to seeing you see the accounts too 

[dwaino]

I think there is a typo regarding sponsorship revenues 

Is the TFFcounted in the Revenue and therefore profit?
If so, how much of our revenue/profit is attributable to the TFF?
I would just like to know the underlying health of our PnL post the one offs

Yes FTF must be counted in total revenues, therefore inplact on total profit

I am interested in what our "operating" profit is. Last year that number was highlighted seperately. That is we made a $1.9 mil profict but of that $70k (or something like that) was operating profit = profit on general ops/core business

Wonder when the accounts will be available

Think it's important that they are consistent in how they report this stuff 

Yep, cause getting $3m per year in supporter donations isn't sustainable....

That's how I think of it. But WP pointed out last year after perusing over the ledgers when they were released is the massive bottom line we pay in interest on the debt each other. Without searching for it I think it was $600k or something? It was something substantial anyway. Whatever it was, once the debts are paid off (whether that be from donations or operating profits) it's something else the club will be back in pocket.

[one-eyed]

As mentioned in the Benny Gale interview thread, this year's profit does include the FTF. I was busy trying to type and listen at the time but I believe Benny said "a lot" of profit does include the FTF. What "a lot" means I don't know. If we raised $2m this year via the FTF say then "a lot" would be 66% or thereabouts.

[Phil Mrakov]

As mentioned in the Benny Gale interview thread, this year's profit does include the FTF. I was busy trying to type and listen at the time but I believe Benny said "a lot" of profit does include the FTF. What "a lot" means I don't know. If we raised $2m this year via the FTF say then "a lot" would be 66% or thereabouts.

That's hardly a profit then