RUAS' losses are lowered

The Royal Ulster Agricultural Society (RUAS) has reduced its losses in the latest financial period. A loss of Stg£320,000 was reported for the year to the end of October 2002, when the society's members met for the AGM last Friday.

This result is a considerable improvement on the loss of Stg£879,000 suffered in the previous year when the Balmoral show was cancelled due to the foot and mouth situation.

The disease-prevention measures introduced by DARD, had an impact on the livestock numbers at the winter fair in 2001 and the Balmoral show in May 2002. Official attendance at Balmoral was up by 12% to 63,000, but the society face a continuous struggle to maintain numbers. The possibility of moving the show to another date may also be considered. Both events covered their variable costs and made small contributions to overhead expenses.

Rental income has also recovered to Stg£1.348 million, up from Stg£993,000. These other activities will need to be maintained at this level to ensure the society's resources are further depleted in the future.

Exceptional expenses of Stg£20,000 were incurred during the year as RUAS continue to explore options for the society in the future. None of the proposals have as yet been significantly progressed to allow the council to make a decision one way or the other.

Some renovation of the showgrounds took place during the year, including upgrading the roads of the showground and the lighting and roofing of the Kings Hall.

The long-serving chief executive of RUAS, Bill Yarr, has indicated his intention to retire after this year's show. He will be succeeded by Michael Guest.