Bulldogs announce operating profit

[The Coon Dog]

The Western Bulldogs has announced an operating profit, after Whitten Oval redevelopment depreciation for the year ended 31 October 2010 of $288,184.

With the inclusion of the Whitten Oval redevelopment monies, the net profit for 2010 is $9,709,069.

This is a another pleasing result for the Club as we continue on our quest for success both on and off the field.

Link (http://www.westernbulldogs.com.au/season2011/westernbulldogsnewsfeatures/newsarticle/tabid/4112/newsid/105669/default.aspx)

[divvydan]

Some notes from the financial report that interested me (might only be me :p)

1. Total Debt post WO re-development is $5m
2. Interest paid on that in 2010 was $430k as it was in 2009. No principal was paid.
3. Football Department expenses went up by $1.2m (9%). This is a good sign.
4. Administration expense went up by $1.3m (38%). This confuses me a little, wondering if it's to do with the new parts of the re-development opening (childcare/cafe/etc) and additional staff.
5. Gate receipts/match returns went up from $1.6m to $2.3m
6. Business developement income up from $5.1m to $6.5m (sponsorship?)
7. Membership income up by just over a million ($4.84m to $5.9m)

[Twodogs]

4. Administration expense went up by $1.3m (38%). This confuses me a little, wondering if it's to do with the new parts of the re-development opening (childcare/cafe/etc) and additional staff.



Due to the redevlopment the administration department was split over three locations up until june or july this year when they all moved back to Whitten Oval. Maybe a significant portion of that figure covers rent for the different locations and the cost of relocating all those staff back to headquarters?

[Prince Imperial]

I'm guessing that the legal costs in relation to the VCAT appeal may have something to do with it. The Club stated that this cost over a million dollars and maybe we got a big chunk of that billed to us this year.

The child care and cafe to my knowledge are sub-let to private operators so I don't think they would have much to do with it.

The one disappointing area is Consumer Products which suffered a $296k decline and barely registered a profit. The club closed its shop at Watergardens so I'm also guessing that had a bit to do with it.

For those who don't want to read through the fine print, it's notable that the AFL will continue to give us the $1.7m ASD funding in 2011. Further we will be buying the freehold land and buildings of the Dromana RSL not just taking over the management of it.

[Murphy'sLore]

I'm guessing that the legal costs in relation to the VCAT appeal may have something to do with it. The Club stated that this cost over a million dollars and maybe we got a big chunk of that billed to us this year.

The child care and cafe to my knowledge are sub-let to private operators so I don't think they would have much to do with it.

The one disappointing area is Consumer Products which suffered a $296k decline and barely registered a profit. The club closed its shop at Watergardens so I'm also guessing that had a bit to do with it.

For those who don't want to read through the fine print, it's notable that the AFL will continue to give us the $1.7m ASD funding in 2011. Further we will be buying the freehold land and buildings of the Dromana RSL not just taking over the management of it.

My husband is certainly doing his bit to try to keep this figure in the black! :p

[Ghost Dog]

Membership income up by just over a million ($4.84m to $5.9m)

Alright!

[LostDoggy]

My husband is certainly doing his bit to try to keep this figure in the black! :p

So am I. Missus reckons my new new resolution should be to spend less money at Bulldog Central and then take the two of us to the Gold Coast for a week's holiday with what I saved. She's thinking Versace all the way!

[LostDoggy]

Some notes from the financial report that interested me (might only be me :p)

1. Total Debt post WO re-development is $5m
2. Interest paid on that in 2010 was $430k as it was in 2009. No principal was paid.
3. Football Department expenses went up by $1.2m (9%). This is a good sign.
4. Administration expense went up by $1.3m (38%). This confuses me a little, wondering if it's to do with the new parts of the re-development opening (childcare/cafe/etc) and additional staff.
5. Gate receipts/match returns went up from $1.6m to $2.3m
6. Business developement income up from $5.1m to $6.5m (sponsorship?)
7. Membership income up by just over a million ($4.84m to $5.9m)

The Pound Cafe, childcare centre subletting and conference rooms hire may be contibutors to this component of profit.

[Prince Imperial]

The Pound Cafe, childcare centre subletting and conference rooms hire may be contibutors to this component of profit.

I think you are probably right there. The good news is that these were only for part of the year so we should get the full year benefit from them now. The Kooga Premier Partner sponsorship would be another key reason as it is a lot more than what we were getting from our previous apparel sponsor.

[Mantis]

So am I. Missus reckons my new new resolution should be to spend less money at Bulldog Central and then take the two of us to the Gold Coast for a week's holiday with what I saved. She's thinking Versace all the way!

The weekend of June 25-26 looks like a good time for a GC holiday. ;)