Cow­boys Leagues Club records loss af­ter tax

Townsville Bulletin - - Investor -

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.

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