AGM & Key Documents

2026 Annual General Meeting

Dear Members,

As we prepare for the 2026 Club Forbes Annual General Meeting, I am pleased to report on a strong year for our Club and the progress made over the last 2.5 years.

Financial results for the year ended 30 June 2026:

- Profit increased by 77.7% to $392,045
- Revenue and other income increased by 31.3% to $8.175 million
- Net operating cash flow increased from $815,045 to $1.145 million
- Net assets increased to $2.483 million
- The Club invested $1.378 million in property, plant and equipment

Across the past two financial years, Club Forbes has recorded combined profits of $612,618 and invested approximately $2.278 million in its facilities and equipment.

Bar and catering (2.5)
Management accounts recorded substantial improvements across our food and beverage operations. Bar sales increased by 45.5% to $1.456 million, while bar net profit increased by 116.6% to $592,138.

Catering revenue increased by 53.7% to $1.765 million. Catering moved from a loss of $228,914 to a profit of $433,619—a turnaround of $662,533.

Debt reduction
In 2024, the Club’s ANZ loan balance was approximately $1.33 million. That balance has now reduced to $166,032—a reduction of approximately $1.167 million, or 87.5%.

The remaining balance is scheduled to be repaid by January 2027, leaving Club Forbes free of its core bank debt. This will provide greater financial flexibility to build cash reserves, fund future projects and continue improving our facilities.

Membership and community support
Membership has increased from 4,975 to 6,330 members—an increase of 1,355 members, or 27.2%. Members’ amenities increased by 38.3%, from $122,061 to $168,836. This includes the value returned through promotions, entertainment, events, facilities and other member benefits.

Club Forbes also provided $102,970 in ClubGRANTS funding to local organisations and community groups.

Our Board and staff
Employee benefits increased from $2.147 million to $2.824 million as the Club employed and rostered staff to manage higher levels of business and maintain service standards.

Our staff handled a large increase in business while adapting to new systems, updated procedures and higher expectations. Team members regularly stepped outside their usual roles to support each other and keep the Club operating smoothly. Our managers have taken greater ownership of their departments and continued developing their teams. The improvement in our financial performance, service and member engagement reflects their leadership and the collective effort of every employee.

I genuinely believe we have the greatest staff anywhere. Every member of the Club Forbes team should be proud of what they have achieved.

I also sincerely thank President Greg Ridge and our diligent Board of Directors for their commitment, guidance and support. Their focus on the Club’s long-term position has played an important part in these results.

Club Forbes app
Our new Club Forbes app launched last month and has already been downloaded by 20% of members. The app gives us a direct way to share Club news, events, promotions and member benefits.

Thank you
As our President noted in his message, none of these results would have been possible without your continued support.

Every visit, meal, function and event helps Club Forbes improve its facilities, support its staff, reduce debt and give back to the local community.

Thank you for your loyalty and for continuing to support Club Forbes.
These results reflect members, Directors, management and staff working together for the long-term benefit of our Club.

Annual General Meeting
Eligible members are invited to attend:
Thursday 29 October 2026
6.30 pm
Uruzgan Function Room, Club Forbes

Refreshments will be provided after the meeting.

I look forward to presenting the full results and discussing the year ahead with our members.

Peter Gasson ACCM
Chief Executive Officer
Club Forbes