TTT Annual Financial Report 99/00
The 1999/2000 Financial Year has been one of consolidation for the TTT Corporation. Profits have been good, but expenditures remain high, especially in the area of beverage consumption. The highlight of our year would have to be our expansion into the UK market with the opening of the TTT London Office in late February. This has allowed the Corporation access to a much larger profit base, and given us a foothold to expand our business further into the European Community. Our Asian operations continue their solid growth as do our operations in Australia.
CAPITAL EXPENDITURE / PRODUCTION COSTS:
Alcoholic beverages have traditionally been the main area of expenditure for our Corporation. Below we can see the costs incurred by the Corporation in the past year compared to the previous year, broken down into selected groups:
| Beverage Expenditure | ||
|---|---|---|
| Product | Amount spent 99/00 (A$) | Amount spent 98/99 (A$) |
| Full Strength Beer | $2,765,897.35 | $2,975,341.60 |
| Light Beer | $23.40 | $0 |
| Bourbon | $1,234,564.10 | $987,673.95 |
| Red Wine | $11.50 | $120.65 |
| Rum (inc. cooking) | $3775.15 | $697.80M |
| Other drinks (inc. Coke) | $234,564.70 | $301,820.25 |
Further analysis of these figures is provided below:
1. Full Strength Beer: expenditure in this area fell slightly this year. This was due to two factors. Firstly the lack of a Gold Coast tour in this financial year and secondly, an increase in the number of members switching from beer to bourbs. The expenditure on beers can be broken down into VB 55%, Tooheys New 30%, Ales and Stouts (inc. Tooheys Old and Guinness) 10% and Upper Class beers (inc. Boags, Cascade and Hahn Premium) 5%.
2. Light Beer: not normally a product associated with our Corporation, the tiny expenditure on Light Beer was entirely due to the un-ethical practice of the SCG Trust in allowing low alcohol beer only to be purchased in the concourse area during One-Day Internationals.
3. Bourbon: expenditure on Bourbs continues to rise at an alarming rate. The increased number of cheapies this year is largely to blame. The Board has expressed concern at the unsustainable spending levels of certain members on Bourbs. Bourbon expenditure is overwhelmingly dominated by Jim Beam (97%). The purchase of a 4.5L bottle of JB was one of the highlights of our year.
4. Red Wine: another very low scale expenditure. The inflated figure for 1998/99 was due mainly to a one-off large purchase by the Tex. This years only spending on wine was at the AGM in December.
5. Rum: A growing expenditure. The MP is generally the sole spender in this area, although the purchase by Tex of some cooking “rhum” pushed up the figures slightly. The MPs purchasing of a large number of 2.50 pound Rums in the UK has boosted the figure significantly.
6. Other drinks: these include an increase in Coke (due to an increase in Bourbs). Also included are small amounts of Tequila, Gin and Vodka.
Transportation costs (taxis, buses and petrol) were stable. A large proportion of these costs (48%) were incurred by HHH and his Monaro.
Food expenditure was also steady with the main products consumed being kebabs, steaks, chips, sausages and, thanks mainly to The Prince’s obsession, Maccas.
Tobacco expenditure was slightly lower, due to the continued pattern of some members quitting, starting again, quitting again and then starting yet again in remarkably short spaces of time.
Entry fees and charges were also down, mainly due to the decrease in attendance at the Palace by all but two members, but this was offset by the increased cover charge at this world famous “nightclub”.
Total Expediture for 1999/2000: A$4,034,560.00
PRODUCTION AND EARNINGS:
Earnings for this year have been most impressive, with production increasing at an impressive rate. Some people may wonder just what it is the TTT produces. Our primary product at present is Gee-Ups. The chart below indicates just how well Gee-Up production is coming along:
| Gee-Ups Produced | ||
|---|---|---|
| Period | No. of Gee-Ups 99/00 | No. of Gee-Ups 98/99 |
| Jul-Aug | 23,454 | 18,660 |
| Sep-Dec | 34,598 | 29,094 |
| Jan-Mar | 38,321 | 31,473 |
| Apr-Jun | 27,801 | 20,783 |
As you can see Gee-Up production has increased in every quarter during 1999/2000. Naturally the summer months see the greatest amount of gee-ups produced due to the greater number of meetings held during that time. The total number of gee-ups produced in 1999/2000 is 124,174 we believe this more than justifies the $4 million that was spent in their production.
The number of meetings has increased by 32% on the previous year, with a growing number of these (56%) being classed as "cheapies".
OTHER INCOME SOURCES:
Although gee-ups are the sole product that bear the TTT logo, we also have interests in many other sectors. These include large interests in the retail sector in companies such as Pizza Hut, David Jones and Coles. We also have interests in the technology sector (RSLCom) and the University sector (Unis of Sydney, Wollongong and the ACU). Our interests in the Financial sector have undergone some restructuring with our selling of our stocks in Perpetual Trustees in order to finance our expansion into the United Kingdom, where we have purchased a significant stake in the Financial Times newspaper.
OVERSEAS OPERATIONS – Renewed prospects for the Global Takeover:
It certainly has been a great year for the TTT worldwide, and it looks set to continue that way into next year. Our aims at global domination took a giant step ahead when two Board Members, The MP and The Prince opened our London office in February. They will soon be joined by The Warrior in an all out effort to bring the UK under TTT domination. The Prince and The MP have been tireless in their efforts, not only in England, but also in Wales, Scotland and Ireland. After a huge initial outlay, the UK office is now beginning to bring in some strong foreign currency earnings for the TTT, so vital in these times of a low value Australian dollar.
TTT activity has also been strong in the Asian region. Candy Boy visited Sri Lanka in February, looking at opportunities for the TTT in that country. Later in the year NNN continued his long tradition of Asian operations, when he visited Singapore and Thailand, even finding time to sponsor a local Ping-Pong competition in Bangkok. Such gestures of goodwill are crucial if the TTT is to dominate the Asian region.
Looking ahead, The Warrior will be bringing the TTT message to Germany, Belgium and the Netherlands when he visits there in August. Walshie is also planning to cruise the South Pacific looking for opportunities for us there. We are hoping that he will be able to stage a Fiji-style coup in New Caledonia, making it the first country until total control of the TTT. Undoubtedly there will be many more to follow.
CONCLUSION:
To conclude it has been a most successful year for the Triple Treats Corporation. In fact it has been the best on record. We are sure that this success will continue into the next century as the TTT gradually becomes the worlds largest corporation, and continues its journey to World Domination.