Port Adelaide chairman David Koch today announced the club has recorded an operating profit in consecutive years for the first time in almost a decade.
The 2016 profit of $14,840 after depreciation represents a strong financial performance in a challenging on field year, and while it was down on the previous year’s result of $211,302, it re-affirms the strength of the club’s business model implemented by the current board in 2013.
The achievement of a profit against the backdrop of a disappointing on-field performance is a testament to the club’s loyal membership base - which recorded a year on year increase of 6% - support of Port Adelaide’s highly engaged corporate community and the extremely hard working off-field team, which is amongst the leanest in the AFL.
Mr Koch attributed the positive result to Port Adelaide’s dedicated community.
“The Port Adelaide community has once again shown us exactly how passionate and committed they are about their club,” Mr Koch said.
“Despite our on-field performances not reaching the level that we were all expecting in 2016, we once again achieved a membership base in excess of 60,000, recorded the fourth highest average home ground attendance in the competition and continued to receive incredible support from our corporate partners, in particular our 2016 joint major partners Renault and EnergyAustralia.
“On behalf of the entire Board I thank each and every person and organisation that continues to support us, and show the belief in what we are building here at Port Adelaide.
“We are a community-based club, and have been for over 145 years and the Port Adelaide community is stronger today than it has ever been.”
Mr Koch said Port Adelaide’s ongoing commitment to its industry-leading community programs was a highlight with the club investing over $2 million in these programs in 2016.
“In an extremely tough and challenging environment in 2016, three things in particular stand out as remarkable achievements. Firstly, in partnership with Centacare and the Department of the Premier we developed the Power to End Violence Against Women program which was delivered to in excess of 1,500 young males and begins to change the narrative on the importance of respectful relationships with women,” Mr Koch said.
“Secondly, we launched our Powerful Futures program which created in excess of 40 new job and further education opportunities for disadvantaged and Indigenous youth.
“And finally, we have successfully taken AFL to China, and in the process of doing so, developed an opportunity which could set the Port Adelaide Football Club up for years of sustained financial success, which will directly ensure the strength of our football program into the future.
“Significantly, our China strategy was profitable for our business despite the significant investment we had to make in preparation for our game in Shanghai next year.
“We were all disappointed to finish outside the eight for the second consecutive year. We expect success at Port Adelaide. But we are proud to have developed a resilient business. One that has delivered a profit, continues to deliver market leading social and economic inclusion programs and has looked beyond our shores to the biggest market in the world – China.”
Port Adelaide Football Club Members can obtain access to the club’s 2016 accounts at the Annual General Meeting on Friday 3 February at 6.00pm at Alberton.