Ettalong Diggers Club has reported a $2.2 million drop in profits for the financial year to report a total profit after tax of $6288.
Last year the comparable figure was $2.21 million.
“When we look at the club’s cash operations this year, the club operated with a net loss from operations of $16,729,” the club’s general manager Mr Bill Jackson said in the club’s annual report.
“After adding back depreciation ($1,911,857) and Interest paid ($494,020) along with income tax benefit of ($23,017), our EBITDA comes in at $2,412,165 (12.36%).
“I am proud that we have continued to exist.
“I am proud that we have continued to be relevant and I am proud that we have proven to one and all that we have become part of the Peninsula Community.
“2020 has proven to be one of the most difficult years that our country, our community and this club have ever experienced.
“Never have I, in my 40 years in this industry, ever seen such a devastating year.”
Mr Jackson said that, since re-opening in June: “We have approached each day with all the care and responsibility to ensure that lockdown did not occur due to any flaunting of the Health Orders or other rulings made by the NSW Government and that the health and wellbeing of our members and team remained the number one priority of Ettalong Diggers”.
“Despite our major losses during April and May, [the club] returned in June 2020 with a commitment to continue as much as financially possible to support the local Peninsula organisations requiring funding and we are very proud that we paid total Club Grants for the 2019 – 2020 gaming year amounting to $241,800.
“An amount of $124,600 was in the form of Category 1 Grants to local organisations.
“Another $117,200 was paid out in the form of Category 2 Grants.
“Approximately 90 per cent of this amount was paid out to local Peninsula organisations and sporting bodies.”
SOURCE:
Interview (Jackie Pearson), 30 Oct 2020
Kim Cole, Ettalong Diggers Memorial Club
Website, 25 Oct 2020
Bill Jackson, Ettalong Diggers Memorial Club