Diggers records slightly reduced surplus
Ettalong Diggers has recorded a slightly reduced surplus for the financial year ending June 30 this year compared to the previous year.
The profit for the financial year was $1,987,754, a reduction of $67,734 or about three per cent on the previous year's surplus of $2,055,488.
Revenue increased by $571,548 in the financial year from $23.14M to $23.71M, while expenses increased by $660,576 from $21.10 to $21.76M.
In his directors' report, board chairman Mr John Wood described the surplus as a "strong financial result" and the slight reduction in annual surplus as a result of "the impact of higher cost of living on members and guests".
Bar sales for the year totalled $3.03M, with the bar net profit increasing by $117,907.
Poker machine net takings for the year totalled $14.90M, with an increase of net profit of $67,580.
Catering sales for the period were $3.98M, which generated a net profit of $160,445 which amounted to a decrease of $63,936 or 28.49 per cent.
The club will hold its annual general meeting at 4pm on Sunday, October 27.
SOURCE:
Website, 26 Sep 2024
Ettalong Beach War Memorial Club