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Dear Member, I wish to announce that we were able to generate a profit of $307,310 for the 12 months ended 30th June, 2006, however due largely to severance payments that had to be made this was a decrease of $2,337 over the previous financial year. The cash flow position is still very strong with an increase in funds at the end of the financial I wish to congratulate my fellow Directors, Senior Management and Club members who have contributed to our result. In closing I would like to wish all a Happy Christmas and a healthy and prosperous New Year. Jim Nile |
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