Page 28 - Annual Report 2016

FINANCIAL ANALYSIS

4. Financial Performance and Health
To further detail the current financial health and performance of the Association over the period a number of ratios,
accompanied by explanatory notes, are included for consideration.

2016 2015 2014 2013

Operating Result $12,513 $94,969 $176,819 $186,579
Members Equity $750,255 $737,742 $642,774 $465,955
Cash at Bank $530,842 $790,954 $602,668 $384,928
Trade Debtors $70,792 $54,221 $86,038 $133,598

Trade Creditors $168,439 $166,794 $6,620 $77,653
Table 1 - Financial Performance

Table 1 highlights a smaller surplus against the previous three periods highlighting the association’s investment strategy. The
use of capital for the acquisition of Premier and City Touch has seen a decline in the Cash at Bank against the previous period
with all other indicators remaining consistent with the last period.

2016 2015 2014 2013
Revenue $1,794,638 $1,229,850 $1,119,264 $1,116,696
Expenditure $1,782,125 $1,134,881 $1,022,445 $930,116
Surplus $12,513 $94,969 $176,819 $186,579

Return 0.7% 7.72% 15.8% 16.7%
Table 2 - Financial Return

Table 2 reflects on the return of the Association against past periods.

A 7.72% return was achieved in 2015 and further decline in the return has occurred in 2016, down to 0.7%. However, as noted
in previous notes there are a number of one-off transactions and accounting corrections that have impacted the overall return
for this period.

26 2 0 1 6 A N N U A L R E P O RT