Ipswich Turf Club AGM results
The Ipswich Turf Club has ended the 2016/17 year with positive results despite the racing program shifting to accommodate the woes of racing in Brisbane.
According to Chairman Wayne Patch the Annual Report shows a significant achievement although ongoing economic and external pressures continue to impact many aspects of the Club’s business model.
“The 2016/17 Financial Year was in line with budget forecasts and corporate objectives across the various facets of the Club’s activities.
“Research has shown when Ipswich conducts Friday meetings it is for the benefit of the whole industry as turnover was better than the alternatives.
“Following the resumption of racing at Eagle Farm, before its current closure, the allocation of Friday meetings at Ipswich was cut from 48 to 30. This was a massive hit to the Club’s sustainability.
“The latest closure has put paid to that racing program and Ipswich is once again providing the venue for many of the reallocated metropolitan meetings.
“Members can be reassured, once racing is back to normal at Eagle Farm, the Club will be focused on convincing Racing Queensland of the sound reasoning behind our vision to re-establish Ipswich as Queensland’s principal Friday venue.”
In his address to the members, Mr Patch also acknowledged the recent announcement by Racing Minister Grace Grace and the State Government for the allocation of $13 million to infrastructure work at the Club.
“This work is much overdue and we look forward to the opportunity the facility will provide in helping to diversify the Club’s income stream.
Mr Patch also noted the continued success the 2017 Channel 7 Ipswich Cup holds on the racing calendar.
“We again attracted over 20,000 spectators to attend the biggest day in Queensland racing, which also holds the title as the biggest Australian Provincial raceday.”
Mr Patch also praised the work of the committee and staff for the positive performance and thanked the members for supporting the Club.