MURRUMBIDGEE Turf Club (MTC) have announced an overall profit of $295,602 for the 2015-16 financial year.
MTC president Stuart Lamont revealed another ‘highly successful year’ at the annual general meeting on Tuesday night.
MTC delivered a record cash profit of $414,169 before depreciation. It left the club with an overall profit of $295,602, marginally less than last year’s all-time record.
Lamont put the result down to the club’s management.
“It’s amazing result, really,” Lamont said.
“It’s testament to the management of the place and Scott’s (Sanbrook) management style.
“Pat (Stephens) as the finance controller, is always on top of everything and obviously the board of directors are very stable, which helps as well.
“Then Mark (Hart) with the track does so well. It’s just fantastic when trainers, jockeys and punters all have confidence in the track.
“All in all, the club is going very well.”
Aside from the management, strong crowd numbers and record betting turnover were also key factors behind the profit. Average TAB turnover of $1,027,215 per meeting was a record.
Lamont also explained that revenue raised from non-racing activities, overseen by promotions manager Michelle Blacklock, also played a significant part.
Lamont said a fifth consecutive profit gives MTC financial security.
“It means some security to do some things around the place,” he said.
“We’re not in the business of making big profits for the sake of it, we’re here to put it back into the club and racing.
“There is always general maintenance around the place, which is a costly exercise, and we’re always looking at projects. At least it enables us to do some of these.”
MTC’s 12 directors will remain in place for another 12 months after they all were either elected or appointed for two-year terms late in 2015, amid major changes to the club’s governance in line with Racing NSW policy.