Despite the adverse weather conditions in the second half of the year, it is pleasing again to report that another solid trading profit was achieved for Burleigh Golf Club (BGC) for the 2024/25 year. The trading profit recorded was $541.3K which compares to $466.6K for the previous financial year, an increase of 16.0%. The main contributors to this year’s result were:
- Despite the adverse weather conditions in the June half, a solid result for trading at the Club’s bar albeit down 5.9% but with a slightly improved gross margin percentage
- Contributions from joining fees made by incoming new members and
- Match and visitor income remaining strong for the year again, despite the weather
The Club’s net result after depreciation, investment income and gains/(losses) on the sale of equipment etc was $217.1K which compares to $166.0K for the 2023/24 year. It should be remembered that the Club’s depreciation expense reflects the write off over time of expenditure on course improvements as well as buildings, plant and equipment. With the significant expenditure in recent years and again this year, on new bunkers, green surrounds, tees and the 3rd and 17th holes, depreciation expense was again higher than the previous year. This year, the Club again undertook a detailed review of its fixed asset register and this review, which is carried out every approximately four or five years, identified a number of items that were deemed of no value and any balance carrying value was written off.
Similarly, investment income, which depends on the performance of investment markets, has a material impact on the net profit result. Overall, the increase of 30% over the previous year to a net result of $217.1K, was a very pleasing result.