Mardi Gras post loss

The Sydney Gay and Lesbian Mardi Gras (SGLMG) 2012 Annual Report has revealed a small loss for the 2011/12 financial year. The SGLMG had forecast a modest net profit this year, but said due to a number of factors, this was not achieved.

“The cont

inued turnaround from the 2010 result has been steady, as we rebuild in difficult economic times after the Parade/Party split of 2010,” the SGLMG board reported.

SGLMG have improved their financial result from a loss of $575,627 in 2010, to a loss of $133,678 in 2011, to this year’s result of a loss of $73,057.

This year’s result represents approximately 1.8 percent of Mardi Gras total turnover.

“Given this trajectory of improvement and the measures that have been implemented over the last year, we are on track to return to a sustainable profit in the next financial year,” the report continued.

“This year we produced an incredible Parade and Party, successfully engaged with younger audiences, and re-established the Mardi Gras brand as an iconic LGBTQI event that people come from near and far to enjoy and celebrate.”

The SGLMG board listed new licensing restrictions, the wet summer, unforseen cost increases and keeping party ticket prices at or below 2011 levels as some of the reasons it did not meet its financial goals.

This year’s event saw increased revenue from the Mardi Gras Party and a 48 percent increase in sponsorship revenue.

Parade participant numbers were also the highest in three years at 9,800, and more than 29,000 interstate and international visitors viewed the Parade.

Marriage Equality advocates congratulated SGLMG for the 2012 festival and thanked the organisation for its ongoing support.

“Sydney Gay and Lesbian Mardi Gras continues to provide one of the most powerful platforms for the campaign for marriage equality, and we saw this throughout the entire 2012 festival,” Australian Marriage Equality national convenor Alex Greenwich said.

“The support given to Australian Marriage Equality, and other community groups through free advertising, supporting fundraising campaigns, donation of prizes, and social media support has made a contribution to the community that you can’t put a price on.”

You can read the full 2012 Annual Report here.