26 February 2015 To: ASX Company Announcements Platform
26 February 2015 To: ASX Company Announcements Platform BRISBANE BRONCOS LIMITED AND CONTROLLED ENTITIES 2014 FINANCIAL RESULTS Please find attached the following documents in relation to the 2014 financial results for Brisbane Broncos Limited and its controlled entities (“the Group”): Earnings Release Appendix 4E – Preliminary Final Report 2014 Financial Report Independent Audit Report and Auditor’s Independence Declaration Yours faithfully Brisbane Broncos Limited Louise Lanigan Company Secretary EARNINGS RELEASE FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2014 Brisbane, 26 February 2015 FINANCIAL PERFORMANCE The Board announced today the audited results for the Brisbane Broncos Group for the financial year ended 31 December 2014. The Group recorded an after tax profit for the 31 December 2014 financial year of $831,700 compared to the 2013 result of $2,032,000. The before tax profits for the 2014 and 2013 financial years were $1,322,000 and $3,005,000 respectively. The underlying performance of the commercial business remained strong and accordingly the Board are pleased to be able to pay a fully franked dividend of half of one cent per share. Revenue The Group recorded gross revenue for the 2014 financial year of $37,836,348 which is an 8.1% increase on 2013. Revenue was boosted by the increased Club Grant as well as by growth in sponsorship, membership, casual gate income and in-house merchandise sales. As well as the football-department restructuring, increased costs included higher player salaries in line with the increased salary cap; and also an investigation into potential salary cap breaches. Information received by the club and assessed by Deloittes was reported to the NRL which subsequently found no evidence of breaches after a six-month investigation.
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