Richmond 2021 financial result | PUNT ROAD END | Richmond Tigers Forum
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Richmond 2021 financial result

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caesar said:
So I assume the combined $30 Million State & Federal Government grants are not part of this and held separately? Do those funds appear anywhere on the balance sheet?
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No not part of it as it was just announced, more likely will appear in next financial years numbers
 
AstuteTiger said:
No not part of it as it was just announced, more likely will appear in next financial years numbers
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Not sure about that The Fed Gov't announced a $15Million Grant in March 2019 and the State Gov't theirs in November 2020.
 
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caesar said:
Not sure about that The Fed Gov't announced a $15Million Grant in March 2019 and the State Gov't theirs in November 2020.
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Yes, you're correct I just doubled checked and even though it was granted by the state and federal gov no doubt this is based on final planning approval by the council.
Also, there was a hold up due to the club being challenged regarding the jack dyer stand. So all objections have now been settled/approved. And work can commence.

Richmond FC reveals designs for $65 million Punt Road Oval redevelopment - Australasian Leisure Management

www.ausleisure.com.au www.ausleisure.com.au
 
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AstuteTiger said:
Yes, you're correct I just doubled checked and even though it was granted by the state and federal gov no doubt this is based on final planning approval by the council.
Also, was there a hold up due to the club being challenged regarding the jack dyer stand.

So all objections have now been settled/approved? And work can commence?
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Thanks I am not a balance sheet guy so good to know.

Club still need to jump through a few hoops and get final approvals.
 
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caesar said:
Not sure about that The Fed Gov't announced a $15Million Grant in March 2019 and the State Gov't theirs in November 2020.
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I don't believe it has been accounted for as yet. I would hazard a guess that it was announced but the funds are provided only when the project is given the go ahead (ie. final investment decision). We aren't holding a liability for this cash on the balance sheet so I don't believe we have received it yet.

Income is split out below which is a good result. Biggest gain is in stadium contributions and consumer products which I think around half is consumer products being as the COS impact of consumer products was over $2m (ie. they bought $2m more stock to sell to the Tiger Army) so a great result that and all down to the Tiger Army which is a great result.

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There are a couple of things I'm a bit unsure of, a fairly significant increase in income received in advance ($7.2m) which is a huge growth from $1.5m. Maybe its something to do with Aligned Leisure, but I've asked for the full financial report from them as I assume they split out into Business Segment in the full accounts.
 
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Where's that other line in Expenses called Donations to the MRO?
 
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Few things, takeout job keeper we had a loss, the health and fitness business (assuming thats aligned leisure) is running at a loss but has increased revenues, admin costs have almost doubled in five years and what is the assets write off of 889k?
 
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Scoop said:
Few things, takeout job keeper we had a loss, the health and fitness business (assuming thats aligned leisure) is running at a loss but has increased revenues, admin costs have almost doubled in five years and what is the assets write off of 889k?
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I think the JobKeeper and the health and fitness are related to the same thing. Far more likely that the JobKeeper payments are related to Aligned Leisure rather than the RFC, so I have no problem with either. The costs remain high because we keep the staff employed whilst also taking on the JobKeeper payments to offset. I'd hazard a guess that they probably did make an underlying loss in 2021 because they were closed for such a large proportion of the year, but I'm excited too that I expect revenues to grow significantly from Aligned Leisure in the 2022 year. I see this as a big opportunity in 2022, we have increased locations and that should benefit us with the impact of economies of scale due to the growth we will see.

Admin costs we'd need to see the breakdown of. Once I have the full financials I might ask to see previous years.

There should be more detailed notes to the accounts in the full financials so I'll try and come back on the asset writeoff.
 
The impact of COVID is pretty severe. We need crowds back and life back to normal. Having new facilities at Punt Rd and AFLW/VFL games there will be great and affordable if the revenue can grow again.

DS
 
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