The club recorded a net profit of more than $52,000 – an improvement of more than $160,000 on the previous year and more than $300,000 from the result posted two years ago.

“Toward the end of the 2012-13 racing season the club embarked on a “Striding Ahead” business improvement plan to restore our financial performance and implement a structure and strategy that would ensure the club’s long term financial viability,’’ BJC chief executive officer Ian Hart said.

“The cub has turned the business around, against a backdrop of challenges in reduced funding formulas from traditional wagering, industry funding scheme and continuation of rising costs for utilities and other operational requirements, while still being able to maintain high standards of customer service, presentation of our major events and supporting the community of central Victoria through the significant economic and social impacts from club activities.”

BJC chairman Brendan Drechsler said the club had worked hard to turnaround its finances in the space of two years.

“The club is a non-profit entity that has extremely high costs to administer the various elements of the racing and horse training environment on the racecourse reserve, significant plant and equipment to manage and an ongoing program to improve customer facilities to support the experience at club racing and other events,’’ Drechsler said.

“The club has been able to achieve operational excellence while at the same time creating a model for sustainable financial success.”

The positive financial news for the BJC comes just over a week out from its feature race – the $250,000 Jayco Bendigo Cup (2400m).

“The club now looks forward to staging a highly successful 2014 Jayco Bendigo Cup as the social event of the year in central Victoria,’’ he said.

“In 2015 (the Cup) will have the added endorsement of being a Group Three status event, joining the Geelong Cup as the only country races in Victoria to be recognised with this accolade.”