North Queensland announce a profit of 15.974m for 2021
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.
| Item | 2021 | 2020 | inc/Dec |
| Revenue | 65.408 | 25.227 | 159.28% |
| Profit | 15.974 | 19.99 | -20.09% |
| Poker Machines | 16.153 | 12.143 | 33.02% |
| Sponsorship | 8.986 | 6.451 | 39.30% |
| Gate | 8.962 | 3.188 | 181.12% |
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
