Net loss for SOEC in 2008

Dennis Walker - Giant FM - Mar 3, 2009 / 2:23 pm CASTANET:
The South Okanagan Event Centre was again the topic of discussion during Monday’s regular Penticton City Council meeting. Director of Corporate Services, Jack Kler, says the full financial statements are yet to come but Global Spectrum, the company which manages the SOEC, has released the financial results for the year ending December 31, 2008. “The statements from Global Spectrum report a net loss of $243,000 for 2008. This was based on gross point revenues of $2.44 million. The $243,000 loss is offset by a previously unreported profit of $21,500 in 2007, yielding the performance for both those years as a net loss of $221,500,” says Kler.
Councillors Gary Litke and Judy Sentes want to give a fair review to the results. “Just the comment that I would hope they would now be timely as we have expected them to be timely,” says Sentes. Global Spectrum, at their own expense, brought in a financial team for three days last month to produce a final statement.