As we approach the end of the financial year, it is important to report to Members on the company’s financial performance over the last six months.
I am pleased to report that our half yearly revenue from operating activities of $134m is almost $9m above the same period last year.
This is largely due to an increase in Commercial revenue by $2m, and Investment income by $29m, which is almost $7m above the same period last year.
Our operating loss before investment income and change in net fair value of investments of $11m is also tracking better than the board approved business plan, taking into account the costs of running the board election every three years, fuel price increases and Member Special Projects announced at the AGM.
We expect to make a strong operating profit for the full year, taking into account our Investment income.
The road toll in NSW for the first five months of the year has already reached critical levels.
By the first week of April, 156 people had lost their lives on the State’s roads – that’s 25% more than the same time last year. In just one weekend, 10 people were killed.
All too often these terrible losses lose their meaning – they become nothing more than statistics. The reality is, each one of those deaths is a national tragedy and more needs to be done to bring down the road toll.
Every motorist can do their part by remembering that when they get behind the wheel they are about to embark on one of the most dangerous things we do – drive a vehicle. We also need to accept responsibility for our actions behind the wheel.
However, to suggest that the death toll is solely the responsibility of motorists and their actions is a cop-out.
We need better roads. Too many of our roads are not up to scratch and a simple mistake behind the wheel is costing motorists their lives.
NRMA has a role to play in achieving better roads, and we will not stop applying pressure on the State and Federal governments to spend more on our roads until motorists get the roads we deserve.
We are one month away from embarking on one of the most exciting initiatives in NRMA’s history, with the launch of Free2go in June. Free2go ensures young drivers are not alone on the road regardless of whether they’re in their own car or their friend’s. .
Best wishes,
Tony Stuart CEO
