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Journeys : Oct Nov 2012
RACT Annual Report 2011/12 4 2012 is the 175th anniversary of the Theatre Royal and we were proud to announce our sponsorship as principal partner of this significant and historic Tasmanian institution. Tim Munro, Chief Executive of the Theatre Royal, told our CEO Harvey Lennon that RACT support would help bring an extraordinary range of performances to Tasmania. Chief Executive Officer’s Report Against this canvas, the RACT experienced a successful year, with growth in most core businesses resulting in a surplus that will stand the club well in the years ahead in terms of underpinning its core viability in continuing uncertain times, and the delivery of new service offerings for members. The club’s various business centres all performed well given the consumer confidence levels that currently exist. These results contrasted sharply with most organisations that offer services to the public. RACT Insurance experienced higher re-insurance costs but benefited from fewer significant storm and bushfire events. This year, the number of house fires was also down. However, insurance is a cyclical undertaking and good governance dictates that the RACT Insurance surplus achieved this year will be banked against future years, when significant weather and other events cause a higher demand on insurance resource, as has occurred several times in the last decade. RACT Insurance finished the year with a 9.1% increase in Gross Written Premium. The result was assisted by the withdrawal of a retail presence in Tasmania by competing insurers. This brought some new business to RACT Insurance, which also maintained a consistent marketing presence in the Tasmanian community. Membership of the RACT rose slight ly, despite the prevailing consumer sentiment. Total membership, comprising both Access and Roadside membership, stands at 190,541. Access members enjoy most of the benefits of RACT membership, such as the popular Show Your Card and Save program, but do not have Roadside breakdown membership. Roadside membership stands at 117,787, which is an increase of .62%, and within this category of membership, the premium Ultimate membership rose by 4.1% and now represents 46% of all Roadside membership. Compared to clubs in other states, where in a number of cases membership levels dropped, this is a strong performance by the RACT. During the year the RACT provided the opportunity for members to receive their renewal notice by email instead of the traditional paper copy. This helps to reduce paper consumption and has been well received by members. The many benefits of RACT membership were demonstrated this year through the sale of discount movie tickets. More than $100,000 worth of movie tickets were sold through RACT branches, saving members a total of $45,000, In another initiative, the club embarked on the sale of Woolworths WISH Gift Cards through branches at a 5% discount to members. In the first three months of its operation, more than $142,000 worth of cards were sold to members, saving them a total of $7133. It is estimated that over a full 12 months, member savings on these gift cards will exceed $50,000. RACT Roadside patrols attended 79,565 calls for assistance, compared to 78,090 last year. On average, each metropolitan call for help was attended within 29 minutes or less from the initial call for help. The RACT Battery Service enjoyed exceptionally strong sales. It provided more than 8000 batteries to members through the patrol and contractor networks. RACT Travelworld recorded a slight decline in activity, but finished the year with revenue similar to the prior period. This performance is consistent with the travel industry as a whole. At RACT Travelworld, lack of growth in the first half of the year “Four years after the global financial crisis of 2008, the road to recovery remained bumpy in 2012. During the year some world economies continued to struggle – Greek sovereign debt raised questions about an unravelling of the Eurozone, global corporate earnings were reduced in many instances, and the consumer mood remained cemented in caution. 80 October / November 2012
Aug Sep 2012
Dec 2012 Jan 2013