North Melbourne has recorded a net operating profit of $529,507 for the financial year ending October 31, 2015. It’s the club’s seventh profit in the past eight years.
Managing director and CEO Carl Dilena paid tribute to North’s loyal supporters and hardworking staff for the achievement.
“We still operate in a challenging economic environment, so this outcome is a credit to the tireless efforts of our staff and the unwavering commitment of our amazing members and supporters,” Dilena said.
North managed to continue to invest heavily in its football operations while reducing its once crippling debt of close to $8 million, to just $1.65 million.
“Our decision to properly resource our football department in recent years has paid dividends with two successive preliminary finals appearances,” Dilena added.
“We must continue to invest in this area if we are going to reach the ultimate goal of competing for, and winning, our fifth premiership.
“However, we must also eradicate our debt, which is one of the key strategic aims of the current Board under James Brayshaw.”
Dilena said other factors contributing to the club’s financial position included another membership record and its increasing presence and support in Tasmania.
“We broke through another membership milestone with a fantastic tally of 41,490 but I strongly feel we can grow even more substantially in the coming years,” Dilena said.
“We must set our sights on 50,000 members and then keep pushing. It is critical we retain our current members and continue to attract new ones in order to give our team every opportunity to succeed on the field.
“We must continue to grow our Tasmania membership base through meaningful relationships with the local community and through more engagement with school clinics, visits and outstanding football content on match-days.
“We have delivered the state an outstanding fixture at Blundstone Arena with the first ever Friday night game against Richmond and big clashes against Sydney and Melbourne.”
Key facts 2014/15
- Net operating profit of $529,507 (2014: $423,074)
- Football Department expenditure increased by $1.7m (9%)
- Reduction of debt by $400k to $1.65m
- Revenue more than $37M (increase of $3.1m on 2014)
- Revenue from pokies/gambling $0
