NZMTC RETURN PROFIT AFTER DEPRECIATION
October 6, 2015
The New Zealand Metropolitan Trotting Club Inc. (NZMTC) has announced its annual result for the year ended July 31, 2015, in which it recorded an operating surplus of $274,371 after allowing for depreciation of $945,808.
NZMTC Chairman Barry Dent said “this is our fifth consecutive annual operating surplus which assists the Club in building a sustainable financial environment for the benefit of all industry stakeholders.”
This result was achieved whilst increasing returns to stakeholders by 9.5% during the 201415 season with $7.55 million paid out in stakes and incentives.
Further notable developments during the year included average starter numbers per race holding steady at 10.98 compared to a national average of 10.71, a record year reported from the
Functions and Events Centre, the most commercially successful Cup Day in the Club’s history and the continued strengthening of our property portfolio to produce ongoing returns which underpin the long term financial performance of the Club.
“These developments reflect our Strategic and Business Plans to future proof our Club,” Dent concluded.
It was also extremely rewarding for the Club to be announced as the winner of the Retail/Hospitality Medium/Large Enterprise category at the prestigious 2015 Champion Canterbury Business Awards.
This was a terrific thrill and due reward for a great 2014 calendar year, which was the timeframe being assessed.
The Club’s Annual General Meeting will be held on Monday October 12, 2015, at 5.30 pm.
The Annual Report can be viewed at www.addington.co.nz
Courtesy of Ged Mooar Marketing & Commercial Manager, Addington