By ITU Admin on 30/10/08 at 12:01 am
Triathlon Australia has continued to build on its solid foundation of profits over the last three years, with a consolidated net operating profit of $188,593 tabled at its annual general meeting.
Outgoing Treasurer Michael Howard said the five per cent increase ($9,051) over the previous financial year had been achieved at the same time as an increase in staffing and services by the organisation.
Over the past couple of years I have spoken about the importance of the organisation to develop, own and manage its properties. These properties include the National Olympic Distance Championships and Series, Tri Oz National Age Group Teams and the Whole of Sport Insurance. The number of properties covering different facets of the sports has allowed TA to spread the base of its revenue derivation and in turn spread the risk of any changes that may occur from time to time.
Triathlon Australia CEO Andrew Hamilton Andrew Hamilton said the financial result was pleasing and represented one of the most positive returns of any Olympic sport. He said it ensured a solid platform from which to plan for a challenging period ahead.
We are entering hard times economically, however, if we are smart and leverage two home world championship campaigns appropriately (on the Gold Coast and In Perth in 2009), our next two years should enable continued financial strength. It is clear our focus in this area must remain. In controlling our intellectual property, we now have the tools to capitalise, but this must be done so cautiously.
Mr Hamilton pointed towards two crucial projects that would affect the success of the organisation.
Firstly, in conjunction with the Australian Sports Commission, we have undertaken a process to identify a suitable high performance model for 2009 to 2012. It will not be without controversy and as we move into the recruitment phase, the challenge emerges to implement a plan to repeat the Olympic performance of our women and secure a medal in the mens event in London.
Secondly, we have declared our hand with the launch of the new national Challenge Series and event managing the 2009 ITU Long Distance World Championships in Perth. These events are tremendous opportunities and are undoubtedly the correct strategy for the sport and its participants, but are among our biggest risks if we fail to manage them appropriately.
In other news, two new directors were elected to the Triathlon Australia Board: Sydney financial services executive Tony Newham and a senior executive director of Walter Turnbull, Steve Baker, based in the ACT. Anthony Beven was re-elected to the Board. Melissa Ashton-Garard, while not re-elected, was thanked for her significant contributions, both as a director and previously as an athletes representative.