Financial Report
Crop size impacts revenue
The organisation's financial performance for the year reflected a controlled budget following a challenging crush.
The company recorded an underlying trading loss of $792,655 (2023: profit $12,635), before recognising the net change in the fair value of financial assets. Revenue declined this financial year due to a smaller crop size and less participation in grant projects, while expenditure generally held steady.
CANEGROWERS relies on the membership levy (67% of total revenue), which is the backbone of implementing our strategy, delivering services, and achieving outcomes for growers. Additional revenue is earned from the organisation's investment strategy, which returned 20% to the bottom line, providing important support to the operational needs of the organisation, along with capital growth to strengthen reserves.
The audited statutory Annual Financial Report of CANEGROWERS for the year ended 30 June 2024 is available as a separate document to members and can be downloaded from the members' portal on the website, www.canegrowers.com.au.
Members can also request a copy from the Company Secretary by phoning the Brisbane office on 07 3864 6444.