Record-breaking profits for Riverina RSL

June 13, 2023
Aleney De Winter

Club Corowa, aka Corowa RSL Club, in NSW’s Riverina district, has unveiled an impressive fiscal year profit of $1.13 million – substantially surpassing the previous year’s figures.

The remarkable financial achievement was revealed during the club’s 50th Annual General Meeting (AGM) last week, with the results attributed to strategic decisions, a dedicated team, and unwavering support from club members.

Despite CEO Peter Norris’s absence due to illness, he expressed his satisfaction with the club’s financial performance within the 2022 annual report. Norris stated, “Financially, the club has performed exceptionally well, recording one of our strongest profit positions in many, many years. This enables the Board and Management to make strategic decisions to position our Club for continued growth in the coming decades.”

He also acknowledged the strong executive team, including President Jenni Delany and board member John Elmore, who recently joined the club, along with the club’s cohesive staff and their exceptional customer service.

“I can proudly say our entire team have all contributed significantly to this result. I have never come across such a supportive and cohesive team of staff. Our consistently positive Google reviews are the best indication that both our Members and visitors are well looked after each and every time they step foot in the Club.”

Finance manager Chris Rebbechi described the club’s operating cash flow, known as EBITDARD, as “healthy” for the 2022 year. Rebbechi also highlighted the club’s sustainability efforts, emphasising significant savings achieved through infrastructure investments to lower power costs.

The club is being proactive in anticipating future trends, such as the growing popularity of electric vehicles. CEO Peter Norris revealed plans to install two double electric car chargers in the car park, ensuring visitors have convenient facilities to charge their cars while in town. They aim to stay ahead of the curve as the government offers Fringe Benefit Tax exemptions for electric vehicle owners.

During the AGM, Club Corowa’s commitment to community support was highlighted, particularly through the NSW ClubGRANTS program. The club disbursed almost $60,000 from its Flood Recovery Fund to assist local community groups and sporting clubs affected by floods. Additionally, the Uniting Our Communities Flood Relief Concert, organised by the Corowa RSL Club, raised nearly $30,000 through ticket sales, benefiting various community organisations.

In answer to questions regarding the decision to loan $300,000 to the Corowa Golf Club and provide administration and in-kind support after the 2022 floods, Delany clarified that the intention was not to take over the golf club but to foster mutual success and collaboration. Delany expressed optimism about the potential for both clubs to thrive together, benefiting tourism and other aspects of the community.

Corowa RSL Club. Image: Facebook

Tags

AGM, Corowa RSL, revenue


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