Record profit for club

Press, 2 July 1986, Page 44

Record profit for club

By

G. K. YULE

A record profit of $140,780 is shown in the accounts to be presented to the annual meeting of the New Brighton Trotting Club tomorrow week. The club’s previous best profit was $103,006 in 1984-85. Stakes distributed during the year rose by $126,600 to $438,610, according to the report of the treasurer, Mr Jack Hartley. Stakes subsidies increased by $47,220 to $108,570, while sponsorship amounted to $102,775, against $67,400 for the previous year. Sponsorship by Television New Zealand enabled the club to increase the stake for its feature

mile race to $50,000. The president, Mr Alaster McDonald, in his report, which accompanies the accounts, assures members that the stake for this race will increase again in 1987. Attendances at the club’s seven meetings amounted to 32,881, compared with 36,800 in 198485. In spite of this decline, betting, both on and offcourse, increased. Oricourse the total was $3,200,339, against $3,100,129, while the offcourse total was $7,517,604, against $5,895,145. The club will run a new meeting in 1986-87. This is

an on-course only fixture set down for Thursday, November 27. The club’s normal Anzac Day meeting will be held on Wednesday, April 29, because the holiday falls on a Saturday, says Mr McDonald. The freeholding of the 94 acres involved at Addington Raceway is reported by Mr Hartley. “This is a great achievement considering that the purchase price was $1,000,000. The latest Government valuation is $1,400,000,” he says. The renovation of the members’ stand had cost Addington Raceway $561,359, says Mr Hartley. items of expendi-

ture, with the figures for the previous year in parentheses, included: Totalisator expenses, $127,486 ($120,597); race meeting expenses, $122,334 ($109,971); contribution to Addington Raceway, $111,730 ($118,398); Trotting Conference levies, $50,008 ($45,525)., The main items of income included: On-cpurse totalisator ' income, $340,456 ($324,792); T.A.B. distribution, $314,405 ($253,919); gate receipts, $54,468 ($50,253); members’ subscriptions, $45,326 ($43,435); interest, $70,208 ($38,321); and acceptance fees, $29,100 «2W). r J • ‘J