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Financial Result

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Fino 



Joined: 24 Jul 2009


PostPosted: Wed Nov 27, 2019 3:32 pm
Post subject: Financial ResultReply with quote

https://www.collingwoodfc.com.au/news/2019-11-27/support-from-magpie-army-delivers-strong-financial-result

Interesting that revenue is down ~$10m from last year, perhaps a reflection on the gaming exit.

Strong net profit result. Very strong.
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K 



Joined: 09 Sep 2011


PostPosted: Wed Nov 27, 2019 5:44 pm
Post subject: Reply with quote

"The Cats recorded a modest $28,952 profit, impacted by a large depreciation and amortisation expense of $3.39 million, while the Pies' profit fell slightly but was still strong at just under $4 million. The Western Bulldogs' profit of almost $3 million was their sixth consecutive surplus.

For the Cats, profit before depreciation and amortisation of their assets was up to $2.6 million from $1.8 million, while revenue grew by 7.2 per cent to $60.2 million.
...

The Dogs' profit of $2,980,693 million is their fourth consecutive over the $1 million mark."


https://www.theage.com.au/sport/afl/cats-and-collingwood-post-profits-for-2019-20191127-p53eon.html
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Pies4shaw Leo

pies4shaw


Joined: 08 Oct 2007


PostPosted: Wed Nov 27, 2019 5:55 pm
Post subject: Reply with quote

Of course, Footscray's profit is largely achieved using payments from our Club. It's an outrage. Imagine telling AC Milan fans their team's money was being used to keep Spal afloat.
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K 



Joined: 09 Sep 2011


PostPosted: Wed Nov 27, 2019 6:10 pm
Post subject: Reply with quote

It's not just WB. Carlton & Richmond get heaps of AFL money too.


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BazBoy 



Joined: 11 Sep 2014


PostPosted: Wed Nov 27, 2019 8:05 pm
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So what’s new as we have been propping up the comp since VFL days
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Abdul The Bull 



Joined: 02 Aug 2017


PostPosted: Fri Nov 29, 2019 9:54 am
Post subject: Reply with quote

Net profit of $3.8M on $72+M turnover is a lackluster result (5.34%) That's not a business I'd readily invest in. Having said that, it's considerably better than most other clubs.

I am constantly surprised that some folks calling out the wealth distribution model adopted by the AFL as being unfair happily espouse the same process for personal taxation.... Question

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Rd10.1998_11.1#36 

rd10.1998_11.1#36


Joined: 18 Jul 2018
Location: Sevilla, Spain

PostPosted: Sat Nov 30, 2019 3:38 am
Post subject: Reply with quote

Abdul The Bull wrote:
Net profit of $3.8M on $72+M turnover is a lackluster result (5.34%) That's not a business I'd readily invest in:


There are plenty of ASX200 companies that don’t do any better

What would be the point of the club making a higher nett profit?

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perthmagpie Aries



Joined: 27 Mar 2004
Location: Yarrawonga

PostPosted: Sat Nov 30, 2019 8:29 am
Post subject: Reply with quote

Correct. We have net assets of 44 million. There is no point just storing money away. We are a sporting and community organisation with a mission to win football matches and help people not create dividends for shareholders.
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PyreneesPie Pisces

PyreneesPie


Joined: 22 Aug 2014


PostPosted: Sun Dec 01, 2019 11:11 pm
Post subject: Reply with quote

perthmagpie wrote:
We are a sporting and community organisation with a mission to win football matches .


Ok then - surely, that requires spending considerable amounts of that profit in doing all the club possibly can to prevent injuries, instead of sweeping them under the carpet and labelling them "just bad luck".
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Rd10.1998_11.1#36 

rd10.1998_11.1#36


Joined: 18 Jul 2018
Location: Sevilla, Spain

PostPosted: Sun Dec 01, 2019 11:21 pm
Post subject: Reply with quote

PyreneesPie wrote:
surely, that requires spending considerable amounts of that profit in doing all the club possibly can to prevent injuries...


I have cancer. If I don’t spend my life savings on a numerologist, soothsayer, fortune teller and psychic, am I guilty of not doing all I can to get better?

PyreneesPie wrote:
...instead of sweeping them under the carpet and labelling them "just bad luck".


One day maybe someone is going to have a stab at explaining why they think all the employees of a professional sporting club, whose individual livelihoods and reputations rely to some degree on the ability of the club to perform well, are doing this

Until then I’ll continue to believe that they’re not that willfully self-destructive because I honestly can’t think of any believable motive why they would be as a whole

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PyreneesPie Pisces

PyreneesPie


Joined: 22 Aug 2014


PostPosted: Mon Dec 02, 2019 11:42 am
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^^

Well, acknowledging there's an issue is always a helpful first step. At that point last season where we had 27 fit players to choose from, Eddie said on his breakfast radio that he did not accept that there was an injury problem at Collingwood, as injuries are just a fact of life in the AFL.
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Rd10.1998_11.1#36 

rd10.1998_11.1#36


Joined: 18 Jul 2018
Location: Sevilla, Spain

PostPosted: Mon Dec 02, 2019 3:52 pm
Post subject: Reply with quote

Seems like only yesterday when people were saying Eddie should shut up and stop airing the club's business in the public arena
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Wonka 



Joined: 06 Jan 2019


PostPosted: Mon Dec 02, 2019 6:14 pm
Post subject: Reply with quote

Rd10.1998_11.1#36 wrote:
Seems like only yesterday when people were saying Eddie should shut up and stop airing the club's business in the public arena

They want him to shut up about Carlton's coach and disabled people throwing.
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Rd10.1998_11.1#36 

rd10.1998_11.1#36


Joined: 18 Jul 2018
Location: Sevilla, Spain

PostPosted: Mon Dec 02, 2019 6:26 pm
Post subject: Reply with quote

Wonka wrote:
They want him to shut up about Carlton's coach and disabled people throwing.


There's a long list of things people want Eddie to shut up about...

in this case I'm specifically talking about a recent comment on Nick's which was "just shut up and run the club like a business"

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Last edited by Rd10.1998_11.1#36 on Tue Dec 03, 2019 3:12 pm; edited 1 time in total
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think positive Libra

Side By Side


Joined: 30 Jun 2005
Location: somewhere

PostPosted: Mon Dec 02, 2019 6:28 pm
Post subject: Reply with quote

Pies4shaw wrote:
Of course, Footscray's profit is largely achieved using payments from our Club. It's an outrage. Imagine telling AC Milan fans their team's money was being used to keep Spal afloat.


Man those figures make my blood boil

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