Despite tough economic times, Narrabri RSL Club has recorded a profit of $227,000 for the past year.
The directors’ report to last week’s Annual General Meeting (AGM) noted that the result was down on last year’s record profit, however, there had been an encouraging lift in business activity in the past three months.
“The result reflects the long drought and difficult conditions which have seen a slowdown across many sectors in the local economy,” said club president Mr Barry Stanford.
“However, there has been a significant improvement in the last few months.
“We can see signs of an upturn, but as always, it will depend on good rain,” Mr Stanford added.
“As everyone is aware, the effects of the drought flow right through the community.
“People are doing it tough and this is reflected in the spending of the discretionary dollar.”
The year’s result also reflected the funding of facility improvements for which money was drawn from the club’s own reserves.
Mr Stanford said the directors were exercising caution in the context of long term plans to expand the club and members’ facilities.
“We have funded our first stage of the club extensions, the new gaming room, from our own funds, with no borrowings.
“The board thought it prudent, given the drought, to wait and consolidate before considering borrowing to proceed with the further planned stages of the club expansion. We have all been here long enough to see the cycles of good times and tough times.”
The national mood, with major federal spending cutbacks, also had an impact on local economies such as Narrabri Shire’s.
“However, in the context of club activities our end of year figures are a great result,” said Mr Stanford.
“Many country clubs, in much bigger centres, would love to have the figures and economic base that Narrabri has.
“The fundamentals and growth prospects in Narrabri Shire, with its mix of agriculture, research and mining, are much better than most other towns.”