Richmond makes $3.06m profit in 2017; Revenue now $65m [RFC final financials]

[one-eyed]

Richmond 2017 financial result

richmondfc.com.au 
November 17, 2017 4:09 PM

Richmond will report a profit of $3.06 million for the financial year ended 31 October.

The Club’s operating surplus was $4.31 million, before amortisation and depreciation.

Richmond generated total revenue of $65.2 million, an increase of $17.6 million year-on-year.

This significant growth in revenue is due to increased crowds and sponsorship, as well as sales of merchandise and memorabilia. It also includes a full year’s operation of the Club’s health and recreation business, Aligned Leisure, which expanded further in 2017 to include management of the Eltham Leisure Centre. 

The Richmond Institute of Sports Leadership (RISL) – delivered in partnership with Swinburne University – has also contributed to Richmond’s revenue growth.

Richmond president Peggy O’Neal said the Club was in an extremely strong financial position.

“We remain debt free, have cash reserves of $9.88 million and a strong net asset position of $27.15 million,” O’Neal said.

“This position has been hard-earned and we will continue to make considered decisions to protect and enhance our financial position.

“While football is our core business, and always our number one priority, we continue to invest in the community.

“Our charity partnership with the Alannah & Madeline Foundation, and our work with Indigenous youth in the Korin Gamadji Institute are genuine examples of ways in which the Club is committed to making a difference in our community.

“Richmond is now the first AFL club to sponsor the Midsumma Festival – again underlining our authentic commitment to diversity and equality. I know that members and supporters are proud of the Club’s genuine contribution to the community.”

2017 statistics:

* Total home and away crowds in excess of one million (AFL number one)
* Average home crowds of 55,958 (AFL number one and Club record)
* Five games were played in front of crowds in excess of 85,000
* Dreamtime at the ‘G and Anzac Eve games were the 5th and 6th highest home crowds in Club history
* Seventh consecutive record membership 75,777 (AFL 3rd )
* Home and away TV audience in excess of 11.8 million
* Record sponsorship revenue

http://www.richmondfc.com.au/news/2017-11-17/richmond-2017-financial-result

[Francois Jackson]

Seems light on

Hard to think Bulldogs could deliver a better profit with half the amount of members.

Perhaps other factors came into it but that profit is lower than the dogs and hawks

[Damo]

Seems light on

Hard to think Bulldogs could deliver a better profit with half the amount of members.

Perhaps other factors came into it but that profit is lower than the dogs and hawks

I thought the same

Where’s the rest

[Rampsation]

Cash Reserves of $9.88 million is very good indeed especially as the club has no debt, but the profit does seem very light on. I would
like to know if Aligned Leisure made money and how much. I am also concerned by the return on cash generated, a profit of less than
5% on revenue earned is poor for any business. I know footy is different, but if we can only make $3 million in a premiership year,
it is a problem. This is why our club cant get out of gaming and why we probably need to expand in gaming rather than leaving it
behind, even if most of us probably don't agree with gaming.

[Chuck17]

Anyone know roughly how much in bonuses the execs get for a GF?

[WilliamPowell]

No issue my end on the numbers. Seems about right

Concise financial report is available on the club website

Waiting to see the full financials which have more detailed notes

Large increase in footy department spend, huge positive IMO

Seems light on

Hard to think Bulldogs could deliver a better profit with half the amount of members.

Perhaps other factors came into it but that profit is lower than the dogs and hawks

Bulldogs figures include their AFL handout of over $1 mil, we don't get that

What were people expecting? 5, 6 mil?

Prior to winning thr GF, i reckon you'd be looking at a profit of around $250-$500k. After winning the GF we've landed around where i thought we would

[JP Tiger]

But the Doggies have had a full year to rack up their numbers, we've had 6 weeks! 
Keep watching those numbers rise!   

[Slipper]

Another thing to consider is that this is reported to the year ending October 31. We had only been premiers for a month when the books closed for year.

The premiership win is likely to spur strong merchandise sales into Christmas. Those figures will not impact our bottom line until the end of the current fin year, presumably October 31 2018.

[Francois Jackson]

But the Doggies have had a full year to rack up their numbers, we've had 6 weeks! 
Keep watching those numbers rise!   

?

Dont all numbers get released at the same time.

No issue my end on the numbers. Seems about right

Concise financial report is available on the club website

Waiting to see the full financials which have more detailed notes

Large increase in footy department spend, huge positive IMO

Seems light on

Hard to think Bulldogs could deliver a better profit with half the amount of members.

Perhaps other factors came into it but that profit is lower than the dogs and hawks

Bulldogs figures include their AFL handout of over $1 mil, we don't get that

What were people expecting? 5, 6 mil?

Prior to winning thr GF, i reckon you'd be looking at a profit of around $250-$500k. After winning the GF we've landed around where i thought we would

i was hoping about 4, but perhaps 3 to 3-5 is the mark for the big clubs

2 for the lower clubs

[Knighter]

Disappointing. Should have made twice that

[YellowandBlackBlood]

Next year's total will be more relevant. We need to build on this success.

[Hard Roar Tiger]

Next year's total will be more relevant. We need to build on this success.

Agreed. Money between Nov 1 - end March will be significantly up on last year. Get off to a good start and 80k in members beckons

[Hard Roar Tiger]

I'd also add nearly $10m in cash reserves is a cracking result. Gives us a much needed buffer should on field goes pear shaped.
I'd like to see the numbers for the leisure centres / notoriously low margin businesses that are super competitive

[taztiger4]

Disappointing. Should have made twice that

????????

Is this a random thought or is there some accounting methodology behind it

[Go Richo 12]

Disappointing. Should have made twice that

????????

Is this a random thought or is there some accounting methodology behind it

I think you’ll find that now we have won a premiership we need find something else to complain about.