President’s Report

It is an exciting time for the Club as we play our role in the revitalisation of the Parramatta precinct.

Dear Members, It is my privilege to report to you on an extraordinary year for Parra Leagues & Vikings Sports. Our Club has improved profit, advanced our strategic plan, attracted record memberships, and strengthened our commitment and ties to the local community. Net profit after tax of the Group was $3,025,066, up from $2,122,865 in 2020, a great result due to the strong trading performance of our licensed Clubs – despite being closed for 106 days – and the strong financial results of the Eels. Parra Leagues (55,088 members) and the Eels (32,376) both achieved record memberships, a great indicator of our strength in the Community. Our role in the community remains a key priority, and this year we were able to support our community partners with ClubGRANTS of $946k. This vital funding goes towards worthy local causes including grass roots sports, education and assisting families in need. It is an exciting time for the Club as we play our role in the revitalisation of the Parramatta precinct. New developments for the Club are already in the pipeline including construction of a permanent new alfresco dining area on the ground floor. This $5m development will be the first major expansion of the Club’s social infrastructure in many years. Subsequent to year end, Pablo’s restaurant in Parra Leagues was re-purposed to Jacks Bar & Grill, enhancing our dining experience on the third floor. The Club’s Development Application for a Hotel was progressed, now awaiting final approval. A formal Expression of Interest was lodged for a multi-million dollar Club expansion, on the site located between the Club and Commbank Stadium and the outcome is expected to be announced by the NSW government in 2022. During the year, we sold non-core properties at Ferris Street and Ross Street in Parramatta for a total of $2.5m. These properties were no longer needed and the sale took advantage of record property prices. Funds received will assist the Club to re-invest into new facilities for members. It was another successful year for the Parramatta Eels, making the semi-finals before ultimately bowing out to eventual premiers Penrith in a thriller. The Eels faced many challenges relocating to Queensland but rose to the occasion and showed themselves to be genuine premiership contenders. Good progress is being made on the Centre of Excellence at Kellyville. The Eels achieved record memberships, strong sponsorship and was once again financially self-sufficient. Commitment to the Eel’s first NRL Women’s team was a major milestone. Plainly the Eels are running extremely well on and off the field, with a strong Board and Management led by Chair Sean McElduff and CEO Jim Sarantinos. In closing, we acknowledge the passing of life members Christopher Jurd (#85959), Peter Rogers (#70010) and Ron Collyer (#59). We pay our respects and offer our sincerest condolences to families and friends. They will be missed by many. On behalf of all members, may I thank our current Directors, a highly skilled and diverse Board which has successfully navigated our Club through these uncertain times. The Directors in turn would like to thank our new CEO Chris Dimou and his Management team for their tremendous work in maintaining a sound financial position and strong trading performance, whilst providing a safe and clean environment for members. On the eve of our 75th year, we look forward with great excitement to celebrating our Anniversary with many improvements for members and a strong year for the Eels.

Greg Monaghan On behalf of Directors Mark Jenkins, Phil Sim, Joy Cusack, Richard Foda, Sue Coleman and Darren Adam