Richmond makes a $2.6 million profit for 2022

[one-eyed]

"Off-field, the Club reported a profit of $2,643,600 for the financial year ended 31 October 2022.

The Club generated a total income of $94,290,554.

Tina De Young, the chair of our Finance, Audit and Investments Committee, will provide more detail in her report to members."

Source: 2022 RFC Annual Report.

[WilliamPowell]

Any profit is a good result

But need to see the details

I look forward to receiving the full financials in the next day or so

[one-eyed]

Any profit is a good result

But need to see the details

I look forward to receiving the full financials in the next day or so

Society being fully open again has obviously helped.

"Health, fitness and community groups" revenue up $10m on last year.
Gaming and hospitality revenue up $2.4m.
Sponsorship, fundraising and corporate products revenue up $4m.
Stadium contributions and consumer products revenue up $2m.

The biggest drop off in income was of course no more jobkeeper ($3.766 million in 2021).

[WilliamPowell]

Any profit is a good result

But need to see the details

I look forward to receiving the full financials in the next day or so

Society being fully open again has obviously helped.

"Health, fitness and community groups" revenue up $10m on last year.
Gaming and hospitality revenue up $2.4m.
Sponsorship, fundraising and corporate products revenue up $4m.
Stadium contributions and consumer products revenue up $2m.

The biggest drop off in income was of course no more jobkeeper ($3.766 million in 2021).

I'm always interested around the health, fitness etc numbers. Revenue number is always good but need to see the expenses to offset and see how much they are making

NB: I've just checked my emails and I've received the full financials. Some light reading for the weekend 

[Knighter]

Only thing I want to know is how much cash we have in the bank? All the rest of the numbers are smoke and mirror BS

[WilliamPowell]

Only thing I want to know is how much cash we have in the bank? All the rest of the numbers are smoke and mirror BS

Umm a very simplistic way of looking at and not true

Because ....

You can have $10 million in the bank but if your payables $15mil, then you're up a certain creek without a paddle
=====================

But anyway from the 2022 Annual Report

Cash & Cash Equivalents = $38.6 mil
Investments = $12 mil

Remember some of the Cash and/or investments would monies (grants) received for the re-development; so it can only be used for that purpose.

[Chuck17]

I think for next year we need to make a provision for the fines incurred by an official of the club calling the umpires and AFL out for blatant cheating

[WilliamPowell]

I think for next year we need to make a provision for the fines incurred by an official of the club calling the umpires and AFL out for blatant cheating

 

[Gracie]

I think for next year we need to make a provision for the fines incurred by an official of the club calling the umpires and AFL out for blatant cheating

Would it need to be as big as the provision made for fines incurred by Pickett?? 

[Tigeritis™©®]

Can we invest some money back into the woman’s program?

Hopefully they’ll take it seriously and get the VFLW program going again. 

[WilliamPowell]

Can we invest some money back into the woman’s program?

Hopefully they’ll take it seriously and get the VFLW program going again. 

There is a soft cap for the Women's program and we spend all of it

And you know despite your angst we don't over spend on soft caps so.....

Think you know the answer 

[Knighter]

Only thing I want to know is how much cash we have in the bank? All the rest of the numbers are smoke and mirror BS

Umm a very simplistic way of looking at and not true

Because ....

You can have $10 million in the bank but if your payables $15mil, then you're up a certain creek without a paddle
=====================

But anyway from the 2022 Annual Report

Cash & Cash Equivalents = $38.6 mil
Investments = $12 mil

Remember some of the Cash and/or investments would monies (grants) received for the re-development; so it can only be used for that purpose.

I get your point but outside of monthly salaries for staff and players and some lease costs potentially we don't have any real payables.  Hence, they are largely irrelevant.

Thats a very healthy cash position but assume that includes the $15mil in govt grants for the redevelopment?

[WilliamPowell]

I get your point but outside of monthly salaries for staff and players and some lease costs potentially we don't have any real payables.  Hence, they are largely irrelevant.

Thats a very healthy cash position but assume that includes the $15mil in govt grants for the redevelopment?

Yes the cash numbers include the grants received

[one-eyed]

2022 Annual Report: https://resources.richmondfc.com.au/aflc-rich/document/2022/11/30/54a54fe8-588d-48ca-a23c-acfcb587611f/2022-Concise-Financial-Statements.pdf

[Tigeritis™©®]

Can we invest some money back into the woman’s program?

Hopefully they’ll take it seriously and get the VFLW program going again. 

There is a soft cap for the Women's program and we spend all of it

And you know despite your angst we don't over spend on soft caps so.....

Think you know the answer 

I was specifically asking about the VFLW program of which we don’t have our own club unlike minnow clubs like Footscray, StKilda and North Melbourne.

I personally think it better for our development if we assist the senior AFLW team by having our own VFLW program.

Don’t you agree?

And how does our sponsorship revenue compare with other clubs?