The on and off-field improvement at St Kilda continues with the club recording a $389,337 operating profit before depreciation, amortisation and interest for the year ended 31 October, 2015 (compared to a $2,607,330 loss the previous year).
When interest, depreciation and amortisation are included, the club recorded a net loss of $847,693 compared to $3,912,922 the previous year.
“It’s important to note that a significant part of our depreciation and amortisation relates to the Seaford premises and therefore traditionally our focus, from an operational point of view, is towards our operating profit before depreciation, amortisation and interest," St Kilda President Peter Summers said.
A significant driver in the turnaround in profitability was increased funding from the AFL which Summers said helped the club address challenges including the Etihad Stadium deal and a fixture that contained the most Sunday Twilight home games of any Victorian club.
Including the AFL support, club revenues increased to $32,605,028 and there was a reduction in operating expenditure to $33,167,406.
“We are pleased with the improved financial position of our club because it shows that we are heading in the right direction,” Summers said.
“That said, we are realistic and know we still have a long way to go. We are managing our costs very effectively but we need to keep building our revenue streams and that will be our focus.”
Summers said profits from sponsorship, fundraising, hospitality and events grew by $515,617 which allowed the club to put more money into key areas including football.
“Like most parts of the club, our finances are going through a period of reshaping, rebuilding and improvement,” he said.
“The numbers have improved but, as importantly, so too has quality of the businesses we are attracting and the various members’ surveys undertaken throughout the year continued to show positive feedback.
“This focus on quality has not only seen improved outcomes for the 2015 financial year but is what has us most excited for the future and confident that we will continue to build on this positive momentum.
“There is no better proof of the club continuing to attract quality people and partners than Friday’s announcement that Pepper Money would join Dare Iced Coffee as a Principal Partner.
“Our fans are continuing to return to this club and engage with us as members and in the stands and we thank them and encourage all supporters to get behind the Saints as we continue to build towards an exciting new period of success.”
