Swans record loss, Saints a profit - Sports News - Fanatics - the world's biggest events

Swans record loss, Saints a profit

18/01/2010 08:19:24 PM Comments (0)

Missing last year's AFL finals contributed to Sydney's financial loss of more than $750,000 in 2009.

The Swans on Monday announced a loss of $752,428 for the year ending October 31.

Club chairman Richard Colless said missing the finals for the first time in seven seasons had an impact on the bottom line.

"The result, whilst again disappointing, was consistent with the previous year and reflects in part the continuing impact of the difficult economic environment, particularly on membership, match-day attendances and corporate hospitality," he said.

Colless said the club's major focus in 2010 would be growing its membership.

While Sydney's financial result was disappointing, St Kilda announced an operating profit of $177,335 for the year.

The profit is part of a net profit of $1.1 million, which included funding from the Victorian government for the club's redevelopment projects.

St Kilda chief executive Michael Nettlefold said the club had been focused on improving the Saints' financial position.

"We have worked hard to gradually improve the financial position of the Club to a point where we have now turned our first profit," he said.

"While this is a positive result for our club, it's only the first step in consolidating our position as we look to build and shape the Saints into a power AFL club."

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