CEO, Treasurer and Concise Financial Reports 2007

[one-eyed]

CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2007

	2007 ($) .....	.... 2006 ($)
CURRENT ASSETS
Cash and cash equivalents	1,744,465	1,471,030
Trade and other receivables	847,751	1,250,006
Prepayments	226,720	239,187
Inventories	92,004	110,347
TOTAL CURRENT ASSETS	2,910,940	3,070,570
NON CURRENT ASSETS
Property, plant and equipment	6,698,490	6,021,330
TOTAL NON CURRENT ASSETS	6,698,490	6,021,330
TOTAL ASSETS	9,609,430	9,091,900
CURRENT LIABILITIES
Payables	3,252,319	3,713,974
Borrowings	162,500	-
Provisions	257,658	176,322
Interest bearing liabilities	4,405,726	4,905,036
Income received in advance	589,112	435,039
TOTAL CURRENT LIABILITIES	8,667,315	9,251,994
NON CURRENT LIABILITIES
Provisions	76,673	21,623
Interest beanng liabilities	17,283	22,824
TOTAL NON CURRENT LIABILITIES	93,965	44,447
TOTAL LIABILITIES	8,761,271	9,274,818
NET ASSETS	848,159	(182,918)
EQUITY
Retained earnings/(accumutated losses)	848,110	(182,967)
Minority interest in controlled entities	49	49
TOTAL EQUITY	848,159	(182,918)

[one-eyed]

CONSOLIDATED INCOME STATEMENT AS AT 31 OCTOBER 2007

	2007 ($) .....	.... 2006 ($)
Revenue from continuing operations	27,764,370	25,840,319
Employment benefits expenses	(14,284,967)	(12,819,157)
Depreciation and amortisation expenses	(274,609)	(172,644)
Marketing and promotional expenditure	(2,747,491)	(2,743,502)
Materials purchases and match day hospitality	(1,917,256)	(1,542,420)
Administration expenditure	(572,456)	(620,776)
Borrowing cost expense	(332,034)	(478,003)
Property maintenance	(617,666)	(590,838)
Football support expenditure	(2,296,170)	(2,234,449)
Membership expenditure	(1,274,979)	(1,193,510)
Property lease expenditure	(1,192,653)	(1,166,018)
Other expenses from ordinary activities	(1,223,012)	(1,330,416)
Net profit / (loss)	1,031,077	948,586

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY AS AT 31 OCTOBER 2007

	2007 ($) .....	.... 2006 ($)
Total equity at the beginning of the financial year	(182,918)	(1,131,504)
Profit / (Loss) for the year	1,031,077	948,586
Total equity at the end of the financial year	848,159	(182,918)

[one-eyed]

CONSOLIDATED STATEMENT OF CASH FLOWS AS AT 31 OCTOBER 2007

	2007 ($) .....	.... 2006 ($)
Cash flows from operating activities
Receipts from football operations	8,902,424	7,095,463
Receipts from marketing operations	12,241,068	12,056,540
Receipts from gaming and social operations	5,824,755	6,397,903
Payments to suppliers and employees	(25,631,792)	(24,135,560)
Interest received	64,968	21,942
Borrowing costs	(332,003)	(478,003)
Jack Dyer Foundation contributions	198,783	139,254
Net cash inflow/(outflow) from opertating activities	1,268,203	1,097,539
Cash flows from investing activities
Payment for land and buildings	(275,876)	-
Payment for property, plant and equipment	(318,392)	(648,498)
Net cash inflow/(outflow) from investing activities[/color]	(657,268)	(648,498)
Cash flows from financing activities
Proceeds from borrowings	162,500	-
Draw down of commercial bills	-	5,200,000
Repayment of borrowings	(500,000)	(1,306,414)
Net cash inflow/(outflow) from financing activities	(337,500)	3,893,586
Net increase/(decrease) in cash held	273,435	4,342,627
Cash at the beginning of the year	1,471,030	(2,871,597)
CASH AT THE END OF THE YEAR	1,744,465	1,471,030

[one-eyed]

REVENUE AS AT 31 OCTOBER 2007

	2007 ($) .....	.... 2006 ($)
Revenue from the continuing operations
Football	8,902,424	7,095,463
Sponsorship and Marketing	12,536,068	12,185,757
Gaming and Social	6,062,127	6,397,903
Interest	64,968	21,942
Jack Dyer Foundation	198,783	139,254
	27,764,370	25,840,319

[one-eyed]

Treasurer's Report

2007 REVIEW

It is pleasing to report that the consolidated entity has recorded a profit of $1,031,077. This represents the Club's largest ever profit, surpassing $1 million for the first time. In accordance with the Club's constitution the profits will be reinvested within the Club's operations.

Year       Result ($ '000)
2004       (2,195)
2005           (44)
2006           949
2007        1,031

Highlights of the 2007 result are as follows

* A record net profit of $1,031,077.

* The Club recorded a profit before gaming operations and Jack Dyer Foundation  fundraising which reflects a profitable core business.

* The Club now has net assets of $848,159 (as at 31 October 2006 the Club had net liabilities of $182,918).

* The Club now has repaid the $500,000 debt related to the construction of the administration and swimming pool building at Punt Road Oval and reduced net operating debt.

2004-2007 REVIEW

The Club has experienced significant financial improvement in almost all facets of our operations between 2004 and 2007. This is set out in graphical representation in the CEO's report.

The Club's financial performance has improved from a $2.20 million loss in 2004 to a $1.03 million profit in 2007. Importantly the Club has been able to achieve this significant increase in profitability while increasing Football Department expenditure by $1.45 million.

The Board has previously communicated to members the fact that comprehensive plans were established at the conclusion of the 2004 financial year. This year's financial result again reaffirms the Board and management's commitment to this plan, and the finance and governance principles that were established to support our operations.

2008 OUTLOOK

The Club's 2008 budget targets a lower profit than that achieved in 2007 as a result of further reinvestment in the Club's resources, including the Football Department. This has been further documented elsewhere in this report.

The 2007 record profit is an excellent result for the Club. The ability to generate a significant profit despite a disappointing on-field performance again highlights the dedication of our sponsors, members, coterie members, donors and supporters.

Signed...
Garry Cameron
Treasurer

[one-eyed]

CEO's REPORT

The recruitment and subsequent development of our young playing list will be the Club's number one priority in 2008. A key part of that commitment will involve significant additional financial and human resources being employed in these areas. This will ensure we have one of the best resourced recruitment and development departments in the competition.

Football Department Expenditure

Year       $ ('000)
2004     10,559
2005     10,227
2006     10,802
2007     12,000

Sponsorship

Year       $ ('000)
2004      1,937
2005      2,289
2006      2,580
2007      2,795

Ticketed Membership

2004      27,133
2005      28,029
2006      29,408
2007      30,100

Crowd Attendance

2004      751,982
2005      802,885
2006      855,556
2007      909,203

[WilliamPowell]

Goodness ...oh dear.....

A million buck profit 

What were we thinking

[mightytiges]

So does this basically say after paying off $500k we still owe $4.4m although the repayments are about a third less than last year?

Is there any obvious explanation behind our gaming/social revenue falling while every other revenue stream has increased?

The rest appears all positive. Back in the black  .

The last figures show again how loyal us Tiger members and supporters are. A continual rise in both membership and crowds over the 3 past years with no on-field bandwagon help .

You would think we should crack the $3m mark in sponsorship next year with Dick Smith and Auslab coming on board  .

[Ramps]

Didnt gaming venues get hit with smoke bans or something or have those been in for a while.

[mightytiges]

Didnt gaming venues get hit with smoke bans or something or have those been in for a while.

You may be right Ramps. Total indoor smoking ban July 1 this year wasn't it?

[WilliamPowell]

So does this basically say after paying off $500k we still owe $4.4m although the repayments are about a third less than last year?

My take on it FWIW is that the orginal finance for the admin building pool etc was one line of finance that has now been paid off. The the remaining $4.4 mil is the current finance arrangement for club operations.

Is there any obvious explanation behind our gaming/social revenue falling while every other revenue stream has increased?

Would think it is something that has happened across the board with all gaming venues. I read in the local paper recently that one of the gaming venues over this side of town has struggled this year and had a significant decrease in revenues. Another the Tigerclub house in Werribee has had restructure of operations to try and increase their revenues

[mightytiges]

So does this basically say after paying off $500k we still owe $4.4m although the repayments are about a third less than last year?

My take on it FWIW is that the orginal finance for the admin building pool etc was one line of finance that has now been paid off. The the remaining $4.4 mil is the current finance arrangement for club operations.

Is there any obvious explanation behind our gaming/social revenue falling while every other revenue stream has increased?

Would think it is something that has happened across the board with all gaming venues. I read in the local paper recently that one of the gaming venues over this side of town has struggled this year and had a significant decrease in revenues. Another the Tigerclub house in Werribee has had restructure of operations to try and increase their revenues

Cheers WP.