The first official sign that things are really looking up…
(Image : Gold Circle / Reflections)
GOLD CIRCLE KZN
“Operating profit of a net R11.4 million”
You can follow these columns with some confidence, because most times, our sources are good. We reported some months ago on our expectations of a strong performance from Gold Circle KZN. The latest chairman’s report endorses it. The local racing entity recorded a profit of R21,3 million, (mitigated by a R9.9 million loss in the Western Cape region,) and leaving an operating profit of a net R11.4 million. The cash flow statement for the six months ended January 2012, reflects a cash and cash equivalent position of R49,050 million, an extraordinary turnaround, and a statement of rude health.
The Western Cape region appears happier looking after its own affairs now, and as we’ve said before, Phumelela must be trading pretty well too, as both it and Gold Circle feed from similar pots.
It can’t be long now, and local horseman can look forward to healthy increases in prize money. It won’t be before time, but it’s the first official sign that things are really looking up.