The consolidated profit of the Group amounted to $15,974,783 (2020: $19,990,930), a decrease of 20.1%. The primary items that affected the results was the reduced level of Government stimulus and Grant monies received in 2021.
The profit of Cowboys Leagues Club Limited (parent) for the year amounted to $1,189,631 (2020: $1,648,763), a decrease of 27.8%. The primary items include:
- cessation of Federal and State Government stimulus packages. $Nil received in 2021, $1,994,500 received in 2020;
- an increase in trading revenue of $5,878,680 (30.4%) from prior year. This was directly related to the parent being operational for the full year (2020 was impacted by Federal Government lockdowns);
- increase in operating expenses of $4,343,312 (22.1%) in comparison to the prior year. Major item variances included Cost of Goods Sold (36.4%), Payroll (16.1%) and Gaming Tax (31%). These increases were directly related to the full-year operations of the Club.
Cowboys Rugby League Football Limited profit for the 2021 year amounted to $14,500,000 (2020: $16,800,000). The profit includes
- building grants of $8,700,000 for construction of The Hutchinson Builders Centre;
- Cowboys Charity Limited profit for the 2021 year was $253,572 (2020: $1,589,771).
North Queensland have announced a profit of 15.974m for 2021 (including building grant of 8.7m).
Revenue rose 159% to 65.408m for 2021. Sponsorship rose 39% to 8.98m, while gate takings rose 181% tto 8.96m https://t.co/aE4bH0jZR2
— sportsindustry (@footyindustryAU) May 6, 2022