TonyK
CibbuanoTigers post profit
November 21st 2008 03:22
RICHMOND ha announced a profit of has announced a profit of $395,000 for 2008.
The Tigers posted a net profit of $8.01 million but that included significant grants from the Federal and State Governments for the Punt Road redevelopment and the creation of the Australian Institute for Indigenous Learning and Development.
Richmond has now recorded a profit for the past four years - those profits have netted the club more than $10 million.
The Tigers also posted a record a membership in excess of 39,000, which is a four per cent increase on 2007.
The consecutive profits recorded by the club has coincided with a $3 million expenditure increase on the football department, including an additional $1.4 million in 2008.
Despite posting a profit, Richmond chief executive Steven Wright said the club has taken a conservative approach to planning for next year given the current global economic climate.
"Difficult challenges remain for the club, particularly in the areas of sponsorship and corporate income for 2009, but we are currently proactively pursuing all options," Wright said in a statement.
The Tigers posted a net profit of $8.01 million but that included significant grants from the Federal and State Governments for the Punt Road redevelopment and the creation of the Australian Institute for Indigenous Learning and Development.
Richmond has now recorded a profit for the past four years - those profits have netted the club more than $10 million.
The Tigers also posted a record a membership in excess of 39,000, which is a four per cent increase on 2007.
The consecutive profits recorded by the club has coincided with a $3 million expenditure increase on the football department, including an additional $1.4 million in 2008.
Despite posting a profit, Richmond chief executive Steven Wright said the club has taken a conservative approach to planning for next year given the current global economic climate.
"Difficult challenges remain for the club, particularly in the areas of sponsorship and corporate income for 2009, but we are currently proactively pursuing all options," Wright said in a statement.
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