CJC bullish on future as it returns to profit
CAIRNS Jockey Club has produced a profit from a racing season for the first time in half a decade and the club is hopeful of building further forward again in 2020.
The local racing club held its annual general meeting earlier this month, with two new committee members joining the club, Scott Carpenter and Alaina Anderlini, as well as the strong profit being highlights of the meeting.
CJC treasurer Greg Stanton noted it was the first profit the Cannon Park-based club has had since an audit following the 2014-15 season and there is hope a bigger profit will be recorded this time next year.
“Our current strategic and business plans have resulted in a profit of $21,268 compared to a loss in 2018 of $82,602,” Cairns Jockey Club president Tom Hedley said.
“This is a very positive result that has been achieved in despite of the loss of revenue from our third biggest race day not being held.
“A 2019 operating profit before depreciation of $277,687 compares well to the $157,354 of 2018.
“The current 2019-20 season will demonstrate further increased revenues for the club.”
The Cannon Park track has seen huge improvement over the last few years through drainage on the course proper and track equipment.
In his address to members long-term objectives.
CJC financial position 2014 -$140,036
2015 -$93,678
2016 -$172,520
2017 -$93,954
2018 -$82,602
2019 +$21,268 at the AGM, Hedley said he hoped the club would be able to secure more TAB meetings and more midweek TAB days for increased prize money in the upcoming season.
CJC general manager John Cameron believes the club is in a strong position.
“It is our first profit for a while and we were able to get it while undergoing a significant maintenance program to our track and racing surface,” Cameron said.
“We are investing in the track to get all these improvements.
“It is all going well at the track right now.”
New committee member Anderlini said her vision for CJC was to continue to help the club grow, increase membership numbers and to gain national exposure as one of the premier racing venues in Queensland.
The club will run a six-race TAB program this Saturday afternoon with 68 nominations late yesterday.
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