The American Club 2021/2022 Annual Report
PAGE 41 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022
FOR THE YEAR ENDED 30 JUNE 2022
FINANCIAL HIGHLIGHTS
Against a backdrop of rising geopolitical tensions, inflation, the lingering effects of COVID-19 and Safe Management Measures, the Club delivered an improved Gross Operating Profit before bonuses for fiscal year 2022 (FY2022) as compared to FY2021.
3% GOP Before Bonuses
78% Gross Profit Margin
22% OPEX Ratio
53% Payroll Ratio
Payroll & Related Costs (S$'000)
S$’000
INCOME STATEMENT
20,000
17,945
33,867
Total Income
15,000
10,000
7,433
Cost of Goods Sold
4,773
4,494
4,346
4,331
5,000
26,434
Gross Profit
0
Q1
Q2
Q3
Q4
FY 2022
17,945
Payroll Costs
7,410
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000
7,410
OPEX
1,079
GOP Before Bonuses
1,810
Variable Bonus
2,021
1,863
1,826
1,700
(731)
GOP After Bonuses
Q1
Q2
Q3
Q4
FY 2022
Management continued to practice financial prudence and responded proactively with various initiatives to mitigate the impact from the ongoing global pandemic: 1) Food & beverage promotions, including TAC2Go! services with bundled meals and festive takeaways; 2) Alternative source of supplies to better manage price increases; 3) Vigorous headcount and payroll management measures; 4) Stringent operating cost control via contract management review, tenders and negotiations.
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