CEO Report

The resilience shown in these uncertain times is a testament to the Board of Directors, Management and staff who are focused on the future and on delivering our strategic plan.

Dear Members, In my first report to the members as CEO I look back and reflect on a rollercoaster of a year with many challenges faced and successfully navigated by our club. Despite these challenges we remain in a strong financial position and are treating this time as an opportunity to build our brand and our business for the benefit of our members and community. A strong financial result was delivered by the Group. Consolidated Group Net Profit increased by 42% to $3.0m. The licensed Clubs profit increased from $0.8m in 2020 to $2.0m in 2021, despite the 106-day closure of both licensed Clubs during 2021. Total Members Funds increased from $71.8m to $74.8m. Pleasingly, during the financial year we were able to repay in full the $4.5m in taxes deferred from the previous year COVID shut-down period. Additionally, our debt levels were reduced by $4.3m down to $21.8m. The Group remains in a strong cash position to support our future plans. The resilience shown in these uncertain times is a testament to the Board of Directors, Management and staff who are focused on the future and on delivering our strategic plan. The Clubhouse refresh has begun in earnest, with repairs to the façade completed in January 2021, which was one of our main priorities in terms of the reinvestment in the Club’s facilities. As our President has mentioned there are more developments on the way in 2022 at Parra Leagues including a new alfresco area for members to enjoy and a covered walkway to the carpark due to be completed in 2022. There are also plans to renovate the Clubhouse at Vikings Sports, which will help improve the overall member experience. We have also appointed a dedicated venue manager who will oversee the daily operations of the Club and help listen to what our Vikings members have to say and cater to the local community needs. Community is at the heart of everything we do, and our Clubs were able to maintain our commitment to maximising our involvement in the local area through our support of 73 community partners via the ClubGRANTS program. We also achieved another milestone by hitting our largest ever member base, 55,088 members, by the end of October. During lockdown our welfare campaign reached out to thousands of vulnerable members and subsequently provided 251 COVID care packages to members in need. Over the past year we have worked extremely hard to protect our members safety and wellbeing. Our Clubs COVID-safety plan goes above and beyond the government requirements and includes regular deep cleaning at both venues, dedicated COVID-marshals and complimentary hygiene products to keep members and guests safe. Furthermore, the Management team, with full support of the Board, closely monitor any anti-money laundering and counter terrorism financing risks that may occur at our Club, whilst working alongside the respective authorities to ensure everyone’s safety. We take great pride in our harm minimisation policy which is designed to reduce the risks of problem gambling at on our venues. Finally, I’d like to give a heartfelt thank you to all our staff and especially our Leadership team, who supported the Club throughout the year despite being stood down for a long period of time. Our people remained enthusiastic about the Club’s future and were excited to come back as soon as we were able to reopen. It is a privilege to be appointed Chief Executive Officer of this great Club and lead a team of passionate, hard-working individuals. I’m excited about our Club’s future as we continue to strive every day to make our Club and our community a better place.