Cowboys Leagues Club records loss after tax
LICENSED club operator the Cowboys Leagues Club Ltd has reported a net loss after tax of $ 9881 for the year to October 31, 2010.
T h e r e s u l t f o l l o w s a $ 665,510 net profit in the previous year.
T h e c o mpany h e l d i t s annual general meeting last night.
In the 2010 annual report, C o w b o y s L e a g u e s C l u b chairman Laurence Lancini, pictured, said it had been another year of many challenges. He said the company’s loss of the catering contract at Dairy Farmers Stadium in 2010 had been a real blow for the business.
‘ ‘ However we have r esponded quickly in restructuring our business,’’ he said. ‘‘ The economic downturn, along with a lack of consumer confidence, certainly affected business growth.
‘‘ Furthermore, the reconstruction of Flinders St gave us a whole new host of challenges.
‘ ‘ Notwithstanding t hese issues, our focus has always been on long-term sustainability.’’
The company’s annual report listed strategies to improve its position including identifying and introducing additional revenue streams and relocating to a larger site, although it says the club is unlikely to relocate to new premises, planned for a site at the corner of Dalrymple Rd and Thuringowa Drive, before 2014.