RFC to make close to a $1 million profit

[one-eyed]

Caroline Wilson
The Age
October 4, 2006

There was good news for Richmond yesterday with its president, Gary March, whose troubled company, Concept Sports, settling a potentially costly and damaging legal case.

March, who had offered to stand down as president of the Tigers should his business problems adversely affect the club, is now expected to remain at the helm for at least another year.

Better still was the news that Richmond would report a record profit of close to $1 million at the end of 2006.

http://www.realfooty.theage.com.au/realfooty/articles/2006/10/03/1159641325865.html

[Rodgerramjet]

Caroline Wilson
The Age
October 4, 2006


Better still was the news that Richmond would report a record profit of close to $1 million at the end of 2006.

http://www.realfooty.theage.com.au/realfooty/articles/2006/10/03/1159641325865.html

Well that's better Isn't it.

[LondonTiger]

Its starting to turn around nicely.

Now all we need is a successful trading period to provide supporters who have not bought memberships with extra confidence for the push to get into finals footy in 2007.

[mightytiges]

It'll be interesting to see the annual financial report when it comes out as where the profit mainly came from. $1 million profit is a fantastic effort just two years after a $2 million loss. Well done March, Wright and the Club  .

[WilliamPowell]

Well the balance sheet will officially be back in the black 

No we just need to get rid of debt to the bank (current liabilities) and we are laughing

It'll be interesting to see the annual financial report when it comes out as where the profit mainly came from. $1 million profit is a fantastic effort just two years after a $2 million loss. Well done March, Wright and the Club .

I remember March saying at the B&F that 2006 had been a record year for sponsorship

[Darth Tiger]

Excellant result for the club.

Congrats to Steve Wright, best CEO the Tigers have had in the modern era.

[Ramps]

I agree with that. Hes delivering big time.

[mightytiges]

I remember March saying at the B&F that 2006 had been a record year for sponsorship

Cheers WP. That's right I forgot we signed up 5 new sponsors this year didn't we. Great stuff  .

[WilliamPowell]

Just one thing if we make a million bucks can we please make sure that the Club is out there saying they made it on their own without AFL handouts.

If Melbounre can boast about their $1 million profit after they receive a million from the AFL then surely we can boast big time that we did it without handouts 

[WilliamPowell]

Tigers head for record profit
05 October 2006   Herald-Sun
Jon Pierik

BOOMING sponsorship and encouraging on-field performances have Richmond primed to announce a record profit of almost $1 million for 2006.

The Tigers had forecast a profit of about $350,000 in May, but club president Gary March said yesterday he would have even better news to deliver at the annual general meeting in December.

"Earlier in the year we were budgeting for $350,000. What we are saying now is we think we will achieve a record profit for the club," March said.

"I think Richmond in its history has only had one profit above $900,000 and that might have been in the Save Our Skins year, which came on the back of a huge amount of fundraising.

"We are slowly but surely making money off the field."

It's a stunning turnaround for the Tigers, who only two years ago were in the red by $2.2 million.

A combination of cost-cutting in the football department and revenue growth, particularly in sponsorship and membership, last year sparked a transformation that delivered a modest $40,000 profit.

Further revenue growth this year, along with another encouraging year on the field where the Tigers finished ninth, has left the club just shy of its first seven-figure profit.

March said the club had a full list of sponsors for next year and was now looking at other ways to continue its upward financial curve.

"We have got very little to sell for next year, so we are looking at other opportunities for the club," he said.

Stability at board level has also helped the turnaround.

Board members Maurice O'Shannassy, Rob Dalton and Anthony Mithen are up for re-election in December and all want to remain.
March said: "At the moment all of those three have indicated they will stand for re-election, so we won't have a casual vacancy."

Coach Terry Wallace left this week for a holiday in the US, where he also intends to follow the lead of Sydney counterpart Paul Roos and inspect the set-ups of some NFL and Major League Baseball clubs.

March said he expected the Tigers to be active during the trade period, but the club was sticking to its youth policy.

The Tigers are interested in Fremantle defender Graham Polak, while Carlton full-back Bret Thornton could also be a target.




http://www.heraldsun.news.com.au/footy/common/story_page/0,8033,20527339%255E20322,00.html

[mightytiges]

"I think Richmond in its history has only had one profit above $900,000 and that might have been in the Save Our Skins year, which came on the back of a huge amount of fundraising.

That's right. Best result for a "typical" year was around $650k in late 90s. So we have smashed that record.

It'll be interesting to see how much of our overdraft we have repaid. The faster we can pay that off the faster we will be able push profits into the millions. The Pies are saying they will make a $4m profit next year .

Stability at board level has also helped the turnaround.

Board members Maurice O'Shannassy, Rob Dalton and Anthony Mithen are up for re-election in December and all want to remain.
March said: "At the moment all of those three have indicated they will stand for re-election, so we won't have a casual vacancy."

Presumably there'll be no election this year.

[Stephanie]

 
We are finally starting to get back on track