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With the first quarter of the year behind us,<br />
we are already in full swing with some very<br />
important club events. The AGM of the Golf<br />
Section of the Zimbali Country Club was held<br />
on the 11th of April, along with the Captains<br />
Dinner.<br />
The draws for the knockout competitions have<br />
taken place and 1st round matches are to be<br />
played in May. The Club Championships, our<br />
main event for the year, are scheduled for the<br />
16th and 17th of May, which is two months<br />
earlier than prior years.<br />
There has been a certain amount of confusion<br />
amongst the members relating to the two<br />
separate AGM’s that take place, with a 3rd<br />
“informal” AGM of the ladies section also having<br />
taken place recently. The Golf Section AGM<br />
deals with golf matters only and is chaired by the<br />
Chairman of the Golf Committee. This meeting<br />
deals mainly with competitions and a general<br />
feedback to members on golf happenings and<br />
highlights for the prior calendar year. The Golf<br />
committee meets monthly and is representative<br />
of golfers at Zimbali Country Club. The Zimbali<br />
Country Club AGM that is scheduled for the 19th<br />
of June is chaired by the Chairman of the Board<br />
of Governors and reports on the financial status<br />
of the Club, as well as any relevant decisions<br />
that may have been taken by the Board over the<br />
prior financial year. This Board’s representation<br />
includes members of the golf committee,<br />
representatives of the developers TIFAZ, the<br />
Fairmont, ZEMA and a ZCC other sections<br />
representative. This Board meets quarterly.<br />
The results for the Country Club to the<br />
end of March have been satisfactory, with<br />
management very aware of the difficult trading<br />
conditions that are prevalent in the hospitality<br />
and leisure industry at present.<br />
A short summary of the various departments<br />
are as follows:<br />
• Total rounds are flat on last year at 8,663.<br />
• Green fee and golf cart revenues are flat on<br />
last year at R2,377,000.<br />
• Food and beverage revenues are 3% behind<br />
last year at R1,163,000.<br />
• Total revenues are 3% up on prior year at<br />
R5,669,000.<br />
• The EBITDA figure is at R694,000 which is<br />
R147,000 up on prior year.<br />
• The Zimbali Country Club has received a new<br />
fleet of golf carts and with the trade in of the<br />
previous fleet, there was a profit on the sale of<br />
assets amounting to R400,000. With this figure<br />
taken into account and the debenture premium<br />
recorded for the 1st 3 months, the retained<br />
profit is R1,191,000, vs. prior year of R485,000.<br />
We have recently added new furniture to the<br />
Fig Tree area, as well as reducing the size of the<br />
garden at the entrance to this facility, which has<br />
allowed for additional seating in our courtyard.<br />
It is amazing to see the additional light and how<br />
underutilized this area was for a long period of<br />
time, with many patrons preferring to sit outside<br />
in the courtyard.<br />
The next Members Quiz evening is scheduled<br />
for the 6th of May with reminders to go out over<br />
the next couple of weeks. Please book early by<br />
contacting dmanly@mweb.co.za to secure your<br />
place in this very popular event.<br />
See you around the Club<br />
Steven<br />
40