Ettalong Bowls Club weathers coronavirus pandemic
The Ettalong Memorial Bowls Club appears to have weathered the coronavirus pandemic relatively well according to the club's 2019-20 financial statement.
Club suffered a drop in profits from $256,319 for the 2019 financial year to $116,931 for 2020, while revenues dropped by more than $1.5 million from $11.99 million to $10.48 million.
The club cut its costs from $10.05 million in 2019 to $8.67 for 2020.
Board chairman Mr Robert Henderson said: "There have been a range of measures introduced by the Government to support businesses and the club is eligible as a result of the impact of the shutdowns announced due to the Covid pandemic.
"The club anticipates continued challenging trading conditions until such time that a return to normal operations is possible.
"The extent of the loss incurred may impact cash reserves, with the financial position of the club being monitored on an ongoing basis by the Board."
Mr Henderson reported net clearances from poker machines for the year totalled $5.12 million, a decrease of $1.10 million (17.7 per cent) on the previous year.
Direct expenses for the 2020 year totalled $2.86 million which compared with 2019 year of $3.12 million, a decrease of $259,000 (8.1 per cent).
Net profit totalled $2.48 million which compared with the 2019 year of $3.39 million, a decrease of $912,000 (26.8 per cent ).
Turnover from bar trading for the year totalled $3.60 million compared with turnover for the previous year of $4.42 million, a decrease of $822,000 or 18.6 per cent.
The bar trading gross profit of $1.98 million (55.5 per cent of sales) is a decrease of $384,000 (16.2 per cent) on the previous year.
Net profit totalled $239,796 which compares with the 2019 year of $540,438, a decrease of $300,642 (55.6 per cent).
Income from bowls operations decreased by $10,098 (8.6 per cent) to $106,780 from $116,877 in 2019.
Expenses totalled $388,213 ($459,087 in 2019), a decrease of $70,874 (15.4 per cent). The net loss from bowls operations was $281,434 for the year compared to $342,210 in 2019, a decrease of $60,776 (17.7 per cent).
Annual report, 10 Nov 2020
Ettalong Memorial Bowls Club