President's Report
Gary March
November 2012
In 2012, the Club again made significant improvement, both off and on the field.
Off‐field, the Club 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. The Club 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 our operations at the Wantirna Club
∙ Finalised pledges of $6 million to the Fighting Tiger Fund (FTF)
It is important to note that of the $6 million pledged to the FTF, $4.25 million has flowed through to the Club’s operating results over the past two years. The balance of $1.75 million pledged will be received by the Club in coming years, in line with payment arrangements made with some major contributors. As noted in previous correspondence, FTF contributions are being split between debt reduction and investment in football.
Although the overall result is very pleasing, a lot of hard work is still ahead of the Club.
We have recorded a significant surplus, which has been built on the wonderful support of our loyal members and supporters, business partners, and a committed board and administration.
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 should particularly thank those who provided
such outstanding support to the Fighting Tiger Fund.
As we 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 the 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.
While we didn’t play finals’ football, the improvement in our young side was there for all to see. We won two more games than we did in 2011 and improved our percentage by 25%. Over the past two seasons, we have become a significantly more competitive team.
This improvement has been the result of a clear plan and significantly increased investment in football. We expect that to deliver further improvement next season and beyond.
We have been strategic in our approach to list management through the draft, trade period and free agency. At the same time, our football department is now better resourced than it has ever been.
Our players will shortly have a state‐of‐the art surface on which to train, new cutting‐edge equipment and technology has been purchased, we have enhanced coaching and recruiting
structures, and we will have a stand‐ alone team in the VFL competition in 2014.
The challenge now is for the Club to grab the opportunity that has been created.
Appreciation
In closing, I would again like to sincerely thank the following organisations, groups and individuals for their wonderful support of the Club throughout 2012.
* Our joint major partners, Jeep Australia and Bingle, and the naming‐rights partner of our Punt Road Oval administration and training facility, ME Bank.
* Our Gold and Platinum partners ‐ Harvey Norman, KooGa, Lite n’ Easy, HOSTPLUS, Signet, Australian Power & Gas, Kuhmo Tyres, Coca‐Cola, Luxbet.com, James Richardson Group and
the Herald and Weekly Times.
* Our official providers ‐ Caydon, Peter Lehmann Wines, Club Warehouse, Musashi, XBlades, Brooks, Skins.
* Our community sponsor Dick Smith, who work with the Club to deliver the Technology in the Territory program in Central Australia.
* The members of Jack’s Club, Legends Club, Richmond Executive and our player sponsors.
* The Tommy Hafey Club, Tiger Lilies, the Former Players and Officials Association, the RFC History and Tradition Group, our many country supporter groups and Club 80.
* Our passionate, loud and proud Cheer Squad.
* My fellow Board members, along with the Club’s managers, coaches, players and staff.
* All our volunteers and helpers behind the scenes.
* Finally, but most importantly, to each Richmond member, thanks for your outstanding commitment to the Club.
I wish you, and all your families, a very happy Christmas and New Year, and look forward to seeing you – and hearing that mighty Tiger roar – at our games throughout the 2013 season.
Gary March
RFC President
