Swans announce small profit for 2017

[bloodspirit]

Today afl.com.au is reporting that we made a $100K profit this year which Pridham has described as "acceptable on balance". I agree that it doesn't seem to flash a result but what it suggests to me is that Ireland's strength is footy more than number crunching and making money. While both are important, I'm glad not only that he has is strong in football and that has enormously contributed to our success since he joined the club. Relevantly for this thread, I'm glad that Tom Harley who will replace Ireland also has a strong football nous whatever his other qualifications. I would rather have someone that knows footy than someone who is just good at business. It balances out too because our success on field brings $$ into the club. If need be, employ more directors of business and finance to assist the CEO.

[liz]

I think net profit is probably the least meaningful figure when you're looking at a not-for-profit. I realise the Swans haven't released their full financial statements yet, so this figure is the only one out there, but it will be far more useful to look at trends in revenue (especially composition of that revenue) and expenses (especially discretionary - core football and non-core football/other operations).

[Industrial Fan]

Quite often have some big write offs and other similar accelerated depreciation in years they would otherwise make money.

So agree that profit as a sole indicator isn�t that useful.

[Aprilbr]

Accounting profit is very different to cashflow (cash in less cash out) which Joe Public think is what profit really is. So it will be interesting to see the breakdown on revenue and expenses. Operating in Sydney is expensive and we don�t have the Pokies revenue that teams like Hawthorn have to draw on (the �family Club� is actually a major player now in Pokies which is an interesting conflict). It shows the fine line between success and failure and why the Swans can never get complacent. Look at Brisbane who once posted good surpluses.


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