Sturt Football Club continues to responsibly manage its off-field operations with an eighth, consecutive consolidated operating surplus of $852,000.
This figure includes the AAMI Stadium land divestment payment of $300,000. It is worth noting that the profit is calculated after deducting depreciation on plant & equipment of $238,000, therefore cash in-flow was $790,000 excluding the AAMI Stadium land divestment payment
Sponsorship, Fundraising & Membership revenue remain strong exceeding budget.
The Club’s hospitality venue BarZaar experienced a significant increase in net gaming. Food and beverage sales were close to budget whilst overheads were prudently managed under budget.
The once crippling bank debt has been repaid and creditors including Australian Taxation Office obligations are all current. It was only 10 years ago that the Club appeared powerless with a debt profile of more than $3M.
President Jason Kilic said it was pleasing to post another consolidated operating surplus.
“The result is encouraging especially considering the challenges of the coronavirus these past two years that have affected us all. I am proud of the work that the Board and Management have done to continuously improve even during times of adversity.
“We have continued to work with The City of Unley Oval on the Unley Oval Grandstand Project and look forward to starting construction of the Stage II Community Hub later this month
“This state-of-the-art facility will be ready for Season 2023,” said a proud Kilic.
The Annual General Meeting was held for the first time in the Club’s history virtually via ZOOM.
Senior Men’s Coach Marty Mattner’s presentation to Members was positively received. Expectations are high both on and off the field with the list he has put together making selection a challenging yet good problem to have.
Football Manager Chris Trapp addressed Members on the Club’s growing football programs including the much-improved women’s teams headed by Senior Coach Michael O’Connor and the introduction of a full season of Under 16s to mirror the Under 18 program.
CEO Sue Dewing said that Board and Management were making the right short to medium-term decisions however emphasised that the priority was to implement a long-term strategy securing the future sustainability of the Club.
“We continue to explore new opportunities and assess risk,” said Dewing
