Ettalong bowling club reports a drop in surplus
Ettalong Memorial Bowling Club will report a 16 per cent drop in surplus for the last financial year at its annual general meeting of members to be held on Sunday, October 20.
The club's directors' report shows a surplus after income tax for the financial year of $1,616,382 compared to $1,917,827 the previous year.
While revenue increased by $139,310 from $13.40M in the previous year to $13.54M, expenses increased by $511,844 from $10.42M to $10.93M.
Other expenses for depreciation, amortisation and interest decreased by $71,089 from $1.06M to $0.99M.
Contributing to the lower surplus, poker machine profit decreased by $133,628 (3.26 per cent) from $4.10M to $3.97M, while bar trading increased by $24,229 (5.15 per cent) from $0.47M to $0.49M.
The net loss from bowls operations increased by $46,748 (14.44 per cent) from $0.32M to $0.37M.
Board Chair Mr Gary Thompson said the Club had focussed on its core activities of hospitality and gaming for its members, while ensuring the key performance metrics for the Club's trading and bowling activities are monitored.
"While the Club anticipates the trading environment will continue to have its challenges in 2024-2025 due higher costs of living pressures on members and guests, the Club believes it can manage these challenges via continuous management of operating budgets and cash flows.
"Inconsistencies and fluctuations in trade are expected.
"These are being managed by the Club's management team and directors by making adjustment to the Club's operations as and when required."
As at June 30, the Club had 12,245 members.
SOURCE:
Website, 29 Sep 2024
Ettalong Memorial Bowling Club