Canteen Worker
First Grader
Manly Daily
John Morcombe
9 February 2008
MANLY League club has taken a "savage" blow from recent smoking bans introduced by the State Government, with profits from poker machines plummeting 27 per cent in the year to October 2007.
The club's bottom line tumbled from a net profit of $659,716 in 2006 to just $58,255. The bleak figures have called into question once again how much money will be available for sponsorship of the Sea Eagles this year and come as management looks to redevelop the Brookvale headquarters.
League club chairman Paul Cummings was forced to slash the club's commitment to the local rugby league side from $1 million in 2006 to just under $700,000 last year.
The losses also recently saw funding to the Manly-Warringah Rugby League Junior Association cut from $100,000 a year to just $50,000.
Mr Cummings said the pokie tax and smoking ban "have hit home hard in all trading sections of our club".
"While the impact was expected, the reality is savage," he wrote in the club's annual report.
Profits from the club's poker machines fell from $9.28 million in 2006 to $7.51 million as of October 2007.
Poker machine profits make up 82 per cent of the club's trading income.
Net trading profit from club membership subscriptions also fell from $162,354 to $142,470.
Club general manager Peter Spray said the 2007 financial year was a "difficult one and the end result was disappointing".
He said the effect of the smoking ban was expected "but the full extent was difficult to predict", although the club's income from poker machines had picked up again since July.
Mr Spray said the move towards a state-of-the-art clubhouse was taking shape but "progress has been slower than expected".
John Morcombe
9 February 2008
MANLY League club has taken a "savage" blow from recent smoking bans introduced by the State Government, with profits from poker machines plummeting 27 per cent in the year to October 2007.
The club's bottom line tumbled from a net profit of $659,716 in 2006 to just $58,255. The bleak figures have called into question once again how much money will be available for sponsorship of the Sea Eagles this year and come as management looks to redevelop the Brookvale headquarters.
League club chairman Paul Cummings was forced to slash the club's commitment to the local rugby league side from $1 million in 2006 to just under $700,000 last year.
The losses also recently saw funding to the Manly-Warringah Rugby League Junior Association cut from $100,000 a year to just $50,000.
Mr Cummings said the pokie tax and smoking ban "have hit home hard in all trading sections of our club".
"While the impact was expected, the reality is savage," he wrote in the club's annual report.
Profits from the club's poker machines fell from $9.28 million in 2006 to $7.51 million as of October 2007.
Poker machine profits make up 82 per cent of the club's trading income.
Net trading profit from club membership subscriptions also fell from $162,354 to $142,470.
Club general manager Peter Spray said the 2007 financial year was a "difficult one and the end result was disappointing".
He said the effect of the smoking ban was expected "but the full extent was difficult to predict", although the club's income from poker machines had picked up again since July.
Mr Spray said the move towards a state-of-the-art clubhouse was taking shape but "progress has been slower than expected".
