Golf: NZ Golf to announce small profit

New Zealand Golf (NZG) will take a healthier balance sheet into the pending amalgamation with Women's Golf New Zealand.

NZG will announce a small profit to members at its annual meeting in Wellington on May 24 and an improved financial performance as both organisations work towards amalgamation later this year.

NZG chief executive Larry Graham said in a statement today he was delighted with the financial performance, which turns around losses in 2002 and 2003 totalling about $400,000.

The organisation increased turnover by 10 per cent over the year ending December, 2004, to $3.5 million and will announce a $39,000 profit.

Much of the increase was due to an increase in levies of $4 per member to cover additional costs in course rating and handicapping.

NZG increased its investment in junior development by $20,000 to deliver programmes at district level, as well as increasing investment in marketing and promotion, initiatives aimed at increasing overall membership.

There was a slight increase in the numbers of full memberships to golf clubs while there was a very small decrease in the total number of male club members.

"It's a positive move forward by the organisation," Graham said.

"We've used the increase in levies wisely to cover our increased costs in the important areas of course rating, handicapping and junior golf which are integral parts of our game.

"Obviously our focus now is on continuing the amalgamation process with Women's Golf New Zealand, who continue to play a very constructive role in moving discussions forward.

"I am happy that we can report a positive result to our members and it gives confidence moving forward with the amalgamation process."

The joint board committee, acting on behalf of both organisations, is expected to complete the new draft constitution shortly.

Also, both organisations will be working from the same premises in Wellington from the end of this month.

"It will be business as usual for both organisation while the joint board committee continue to work through the constitution and other legal matters," Graham said.

"The process has been extremely constructive and there has been a genuine willingness from both parties to ensure that the game of golf and its future development is the priority."

- NZPA