Richmond Football Club posts $217,727 Profit | PUNT ROAD END | Richmond Tigers Forum
  • If you are having trouble logging in to the forum please contact [email protected] // When reseting your password or awaiting confirmation please check that your email is correct and also your junk/spam emails.
  • IMPORTANT // Please look after your loved ones, yourself and be kind to others. If you are feeling that the world is too hard to handle there is always help - I implore you not to hesitate in contacting one of these wonderful organisations Lifeline and Beyond Blue ... and I'm sure reaching out to our PRE community we will find a way to help. T.

Richmond Football Club posts $217,727 Profit

jb03

Tiger Legend
Jan 28, 2004
28,337
3,044
Melbourne
we've got some smart cookies running the show

I reckon we will be trying to grow this part of the business not shrink it
Very tough environment. Ever heard of a wealthy personal trainer? Fitness is a common space that many play in thus being profitable is not easy.
 
  • Like
Reactions: 1 users

Midsy

I am the one who knocks.
Jan 18, 2014
2,945
703
48
London
That result includes over $10m in job keeper - this really needs to be called out not because the club would have been in the red significantly without it but it highlights just how big an impact Covid has had on the industry this year - would be interesting to see what other clubs generated in job keeper
Pretty much every company around the world has had access to government funds to aid the payment of their staff in order not to make mass redundancies, and most would have been significantly in the red without it.

"Calling them out" seems a little over the top considering the circumstances.
 

taztiger4

Shovelheads- Keeping hipsters off Harley's
Jul 13, 2005
5,630
2,438
Richmond Victoria
Very tough environment. Ever heard of a wealthy personal trainer? Fitness is a common space that many play in thus being profitable is not easy.
LOL,Richard Symmons :)

We are managing the whole facility/ies, different kettle of fish
 
  • Haha
Reactions: 1 users

mrposhman

Tiger Legend
Oct 6, 2013
8,690
4,653
Has Aligned Leisure produced a profit in pre Covid times?

They did last year. $24.8m revenues, $24.2m in costs. This year they had $24.3m in costs but only $17.8m in revenue. You can guarantee that they would have picked up a fair amount of JobKeeper offsetting the operational losses.
 
  • Like
Reactions: 1 user

Ridley

Tiger Legend
Jul 21, 2003
12,773
5,707
Fantastic effort but might be time to bail on Allied Leisure. Clubs in the AFL historically struggle when investing outside the core business.
I know someone who works at one of the facilities. She reckons they are fantastic operators and great to work for. So much more professional than others she has worked for in the same space.
 
  • Like
Reactions: 3 users

The Kop

Tiger Cub
Jul 15, 2012
50
59
Pretty much every company around the world has had access to government funds to aid the payment of their staff in order not to make mass redundancies, and most would have been significantly in the red without it.

"Calling them out" seems a little over the top considering the circumstances.
I think you will find that is what various regulatory bodies have actually asked for to enable users of financial reports to actually understand what has driven their result - to make no mention that 15% of your revenue has come from a government program is a little misleading - that’s just my opinion of someone trying to understand the underlying result
 

mrposhman

Tiger Legend
Oct 6, 2013
8,690
4,653
I think you will find that is what various regulatory bodies have actually asked for to enable users of financial reports to actually understand what has driven their result - to make no mention that 15% of your revenue has come from a government program is a little misleading - that’s just my opinion of someone trying to understand the underlying result

Its a fair call but its not as black and white as you make out., Sure they have received $10.8m in income from the government, thats a given, but it can't be assumed that you just deduct this from the net income, and identify that they would have lost $10.6m as many of the staff kept on due to JobKeeper would have more likely have been laid off (a lot for free as JobKeeper included casuals etc). Trying to identify an underlying profit / loss position in this instance for all businesses is nigh on impossible due to the fact that those tough decisions were not undertaken so who knows what the real underlying loss have been. For example, could the RFC have saved $4m in cost reductions, $7m, the full $10.8m? No-one knows and probably not even the businesses that the financial results represent as they didn't need to go through that exercise to determine potential cost savings.
 

The Kop

Tiger Cub
Jul 15, 2012
50
59
Its a fair call but its not as black and white as you make out., Sure they have received $10.8m in income from the government, thats a given, but it can't be assumed that you just deduct this from the net income, and identify that they would have lost $10.6m as many of the staff kept on due to JobKeeper would have more likely have been laid off (a lot for free as JobKeeper included casuals etc). Trying to identify an underlying profit / loss position in this instance for all businesses is nigh on impossible due to the fact that those tough decisions were not undertaken so who knows what the real underlying loss have been. For example, could the RFC have saved $4m in cost reductions, $7m, the full $10.8m? No-one knows and probably not even the businesses that the financial results represent as they didn't need to go through that exercise to determine potential cost savings.
Agree fully it’s not a one for one relationship
 

The Big Richo

Moderator
Aug 19, 2010
3,938
5,203
The home of Dusty
The next statue at Punt Road really needs to be a tribute to the Tiger Army.

Incredible result really, but feel for all the staff who lost wages and jobs to boost that result.
 
  • Like
  • Sad
Reactions: 3 users

seven

Super Tiger
Apr 20, 2004
21,973
4,707
Geelong are to announce around a $500,000 loss for 2020.
 
  • Like
  • Wow
Reactions: 2 users

French Tiger

Tiger Champion
Oct 6, 2004
4,421
707
Great result. Some clubs cant make a profit in normal times & we make a nice one this year of all years. Credit to those at the club & a pity some had to lose their jobs as a result of it all though.
 
  • Sad
Reactions: 1 user

caesar

Tiger Champion
Feb 9, 2015
4,310
4,854
Great result. Some clubs cant make a profit in normal times & we make a nice one this year of all years. Credit to those at the club & a pity some had to lose their jobs as a result of it all though.

The BIGGEST credit goes to us Tiger members who pretty much in mass retained their memberships without requesting a refund.
2021 will be another testing year and will require our support also.
 
  • Like
Reactions: 8 users

TigerMasochist

Walks softly carries a big stick.
Jul 13, 2003
19,716
2,691
The BIGGEST credit goes to us Tiger members who pretty much in mass retained their memberships without requesting a refund.
2021 will be another testing year and will require our support also.
Three flags in four years. Pretty sure they've earned my ongoing support, even if match day attendance is restricted or obliterated for a year or three.
A few years back was pretty much resigned to the fact that we'd struggle to rise above mediocre again while I was following the club. Bloody amazed n overjoyed by what the whole club has pulled together recently.
 
  • Like
Reactions: 6 users

turk-d-tiger

Welcome to Richmond Football Club - Daniel Rioli
Dec 1, 2007
3,469
701
melbourne
Three flags in four years. Pretty sure they've earned my ongoing support, even if match day attendance is restricted or obliterated for a year or three.
A few years back was pretty much resigned to the fact that we'd struggle to rise above mediocre again while I was following the club. Bloody amazed n overjoyed by what the whole club has pulled together recently.
100% Correct

The Money i paid for with the 4 memberships i buy every year is well worth the bragging rights and also the pleasure my family got all year during lockdown watching the RFC winning make life better and kept our sanity.

Dont regret 1 cent
 
  • Like
Reactions: 11 users

TigerMasochist

Walks softly carries a big stick.
Jul 13, 2003
19,716
2,691
Hate to think what loss North will post.
Posted a couple of hundred grand profit, similar to us. Mind you, they get massive equalisation overs from the AFL to keep them afloat. Also claim that they've fully paid out their previous two coaches, so there's no ongoing debt bar about half a mill total.
 
  • Like
Reactions: 1 user