North Melbourne has recorded a remarkable tenth profit in the past eleven years.

Coinciding with a promising season, the club achieved a net profit of $1,535,580 (including redevelopment funding and fundraising, and after amortisation and depreciation) for the financial year ending 31 October, 2018.

Overall revenue grew to just under $41m - a $1.28m year-on-year increase - with an operating surplus of $718,136.

North managing director and CEO, Carl Dilena, said the club's members and a strong strategy were critical to the ongoing growth and stability of the club. 

North's debt has been drastically slashed, while investment into the football department has increased year-on-year.

“The continuation of the debt reduction program and achievement of operating profits and football department investment has been significant," Dilena said. 

"We've been able to reduce bank debt by a further $400K taking our overall debt to just $450K. 

"Football expenditure increased by $784K from 2017, largely due to fielding a standalone VFL team. The investment in football is critical to sustained on-field success.

“We will continue this investment in the 2019 season and look forward to another strong season.  We are progressing well with an initial $6m rebuild of our facilities to cater for our AFLW, VFLW and VFL teams.  The growth in our club is genuinely exciting.” 

Dilena said another large factor adding to the positivity at Arden Street was the on-field performance and recent recruiting.

“The team was really competitive throughout the year with twelve wins, doubling the previous year's efforts. We narrowly missed finals but most importantly we showed rapid improvement and proved that we have the talent to compete and beat the best teams in the competition,” Dilena said. 

"With our acquisitions during the trade period and draft, we are certainly set for exciting times ahead."