Club reports profit

Press, 13 September 1988, Page 36

Club reports profit

The Banks Peninsula Racing Club has reported a profit of $26,044 in spite of decreased turnover during the 1987-88 season.

The club was able to post an increased profit largely because of the T.A.B. distribution profit which rose from $27,441 to $36,765. Race meeting expenses increased by just over $3OOO to $147,638 while stakes remained at $96,000.

Betting decreased by 8.4 per cent which has been attributed to the sharemarket downturn of two weeks before but was not helped by a chapter of incidents during the day’s racing. The result followed two most sue-

cessful years when turnover had increased, by 57.1 per cent and 33.9 per cent respectively.

The club president, Mr Bob Nurse, pointed to other rewards the club experienced during the year, the most notable being the replacement of the stewards stand. Mr Nurse paid tribute to the efforts of two long-stand-ing club officials who have retired, George Rawstron, the senior vicepresident and committee member, Peter De Latour an administer since 1970.

Messrs M. R. Bell, S. J. Fox and D. G. Wilson were elected to the committee.