A D M I N I STRATOR’ S REPORT
MAX D O N N EL LY Dear Members I am pleased to report that Parramatta Leagues Club (PLC) and the Parramatta National Rugby League Limited (PNRL) have continued to make progress in 2018. Some key business highlights for the PLC group include: • Delivery and completion of major building projects including the new PLC car park, Kicks Tenpin & Arcade, and the Jacks micro-brewery. • Substantial improvement in the financial position of the Eels including the best financial result for PNRL in five years.
“The delivery of the new PLC car park, Kicks Tenpin & Arcade, the upgraded restaurant areas and Jacks micro-brewery provide a diversification of revenue for the Club…”
•S igning a new multiyear agreement to become the anchor tenant of the new Bankwest Stadium The strong business performance of both organisations highlight how important the governance reforms undertaken in PNRL were for both organisations. With a strong skills based Board now in place, the PNRL has importantly started to reduce the financial impact on the overall group allowing the PLC to undertake much needed investment in its core business operations. Financial Performance The financial performance of PLC group saw it deliver a $3.5 million profit for the 12-month period ending 31st October 2018. This was a strong and resilient result when you consider that a number of the key building projects had an impact to the trading operations of the PLC business. Importantly, the delivery of the new PLC car park, Kicks Tenpin & Arcade, the upgraded restaurant areas and Jacks micro-brewery provide a diversification of revenue for the Club and major opportunities for growth when combined with the new Bankwest Stadium. It is a credit to Bevan Paul and his management team that PLC maintained profitability while completing these important key infrastructure projects. The Club now has a strong platform to take advantage of new revenue opportunities and an upgraded venue ready for the return of Eels home games in 2019. I congratulate him and his team for their performance for 2018.
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| PARRAMATTA LEAGUES CLUB LIMITED
