St Kilda posts small profit despite modest season and average attendances

St Kilda paid dearly for its poor performances last season but the Saints still managed to make a profit despite weaker than forecast match-return revenue.

St Kilda paid dearly for its poor performances last season but the Saints still managed to turn an operating profit of $202,671 despite weaker than forecast match-return revenue.

A new stadium deal, record membership and commercial growth helped the Saints balance the books as Alan Richardson’s men slid down the ladder and out of contention.

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Saints chief executive Matt Finnis lamented the modest return.

“The club recorded an operating profit … however, due to a substantial decrease in home-game attendances following our poor on-field performance, we were unable to fully capitalise on the forecast gains in match-return revenue under the new stadium agreement,” Finnis said.

St Kilda won only four games in 2018. Picture: Michael Klein

“One of our major objectives over the past four years has been to build a more resilient business model in order to cope with the fluctuations in on-field performance.

“Whilst it is somewhat pleasing this stability protected the club in a disappointing season, the modest operating profit demonstrates the increasing importance of match-return revenue to our overall business.”

The Saints, who spent about $2 million across its men’s and women’s programs, posted a record membership of 46,998 this year.

St Kilda’s annual general meeting will be held on Tuesday December 18 December at RSEA Park from 7pm.