How is your club performing?
The table above provides an analysis of our clubs’ bar, gaming machine, and total revenue for the latest quarters (March 2023 and June 2023) and the 2021 to 2023 annual results.
Comparison over the last three years has been difficult with COVID-19 closures and social distancing impacting results.
The 2022 annual results included closure periods in the Sept 21 and Dec 21 quarters which resulted in revenue being down compared to 2021. Also impacting the 2022 results was the Omicron variant that impacted over the festive period, anti-vaccination rules and the large amounts of wet weather.
The 2023 annual results have been relatively unscathed with no closure periods. These results show excellent growth in revenue from 2022.
The most important factor, however, is the great performance by clubs in the last six months, mainly through gaming machines, which has helped clubs improve revenue and financial performance. Although club's results did drop between the March 23 and December 22 quarters, strong growth in the June 23 quarter saw the 2023 financial year being great for clubs.
We are mindful moving forward, however, that factors such as the increasing costs of living, interest rates, and the completion of low-income tax benefits may start to slow revenue growth. Your club's budgets should take into account these potential impacts.
If you would like a review of your club’s financial performance, speak to one of our Assurance Advisors today.
