The club’s operating profit for 2010 is $233,752 with a statutory profit after non-operating activities of $771,558.
“North Melbourne has grown rapidly since 2007 and all credit goes to the Board, staff and players for working hard to build our strength on and off the field. Along with steady increases in revenue, we have upped Football Department spend by more than 25 percent and we will commit just under $15 million in 2011,” North Chief Executive Eugene Arocca told kangaroos.com.au.
Overall revenue growth for the club was over $2 million from 2009 to a total of $25.5 million. The growth in revenue since 2007 has been 19 percent or $4.1 million.
The club’s overall balance sheet position following the completion of the Arden Street Facility is $7.56 million in net assets.
“Our financial focus moving forward must be on debt which is $5 million. We will put together a plan to reduce this figure with the help of our loyal supporters, growing external football revenue and establishing new market growth.
“It’s been a long time since we posted three consecutive years of operating profits, particularly when we have not been in the finals for two of those years. There is a lot to look forward to at the North Melbourne Football Club and we are determined to now grow like never before. We are close to 40 percent up on our membership numbers at the same time last year and we are excited about our young team and coach.
“We must continue to be innovative in the way we run our business and capitalise on the excitement and enthusiasm which surrounds this great club. We hope to see a great crowd of people at our Family Day on Saturday and together we can build toward a bright 2011 and beyond.”
