NORTH Melbourne has recorded its seventh net profit in the past eight years, finishing $529,507 in the black in 2015.

North announced its half-million-dollar profit for the financial year ending October 31 on Thursday, a result that includes the equalisation funding the club receives from the AFL.

The Roos' profit represents a 25 per cent increase on the $423,074 they recorded in 2014, a result achieved while also increasing their football department spending by $1.7 million and reducing their debt by $400,000 to $1.65 million.

North's total revenue in 2015 was up $3.1 million on 2014 to $37 million, while the club again drew no income from poker machines or gaming sponsorships.

North CEO Carl Dilena said achieving a profit "in a challenging economic environment" was a credit to the club's staff and supporters.

Dilena said North would continue to invest in its football department as it pursued a fifth premiership, but also had to focus on reducing debt and growing membership.

"We broke through another membership milestone with a fantastic tally of 41,490 (in 2015), 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."