Financials

During normal operating, our Financials are posted on the Foyer Notice Board for our Members to view.

Whilst we endure COVID-19 Regulations, the Financials will be posted below.


Financial Implications of COVID-19

On the back of our recently completed major renovations, we had commenced our new financial year (October 2019) with extremely positive trade.

After five (5) months (October 2019 to February 2020) our results reflected significant increase on the previous year and above budget.

Unfortunately, the impact of COVID-19 (Closure as at 23rd March 2020) will have significant impact on our Financial performance for this year.

Our Six (6) months (October 2019 – March 2020) reflects a very strong and positive performance with a net profit of $541,872 ($488, 425 – 2019).

However, predicted budgeting for the remainder of the year due to continued COVID-19 closure reflects significant losses each month, with the likelihood of an overall loss for the year of one (1) million dollars.

Importantly, we remain in a very strong and stable financial position and able to meet all current and required financial liabilities.

Please see below Income Statement for the Six (6) Months ended 31st March 2020. (Please click)

Regards,
Craig Muir
General Manager