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.