Club commodore Reuben Miller maintained it is in a strong position, despite finishing the financial year $45,615 behind budget.
The accounts showed a loss of $40,420 compared to a profit of $53,257 the previous year.
Excluding depreciation, the club recorded a profit of $8054. Last year it netted a profit of $109,305.
The club budgeted for a profit of $5195 after depreciation.
“The financial performance of the club was down on previous years, where we had SailGP in Lyttelton. We have plans and programmes in place to grow the club without this event being hosted here in the future,” said Miller.
However, chair Sabrina Saunders said she would not rule out SailGP returning in the future.
After the race in March last year, SailGP withdrew from its agreement with ChristchurchNZ to hold a race in Lyttelton this year.
Naval Point’s financial performance for the year was presented at its annual meeting. Miller said the club budgeted for a small profit but made some strategic plans during the year.
“We made the decision to invest in our fleet of training yachts to enable us to open a learn-to-sail programme for adults. We are excited about the opportunities it presents,” he said.
The club has also invested in bringing support boats up to the requirements to meet the additional needs of teams racing.
Said Miller: “We are excited about the club’s future, in particular with the plans under way for the redevelopment of the Naval Point area.
“We have a fantastic club manager in place who is very engaged with the community and bringing new life into the club.”
It also invested significantly in repairs and maintenance, both on the club facilities and rescue boats.
Saunders said the club has locked in two national tournaments for 2027 but could not go into details about what they were.
The club is also in talks to bring more international events to Lyttelton Harbour and is waiting to hear back from organisers. She credits her team of volunteers for the position the club is in.
“I can’t do it without them, they’re just so wonderful and they put their heart into this club and they just want to see more sailors out there.”
