AFTER achieving its highest ladder position since 2006, Melbourne has had success off the field, finishing the financial year with a profit of $720,218.

It is the third consecutive year the Demons have posted a profit.

The club achieved the result while increasing spending on its football department by $635,000.

CEO Peter Jackson said the club's members helped drive the result.

"This is a pleasing result for the football club and our members were a key factor in the consolidation of our financial position," Jackson said.

"We saw membership grow to record levels, with 39,255 signing up for the 2016 season. This was complemented by our strong home game attendances, which saw over 330,000 people attend our home games – an increase of 72,000 compared to the previous season."

Melbourne was the recipient of about half-a-million dollars from the AFL, with a similar amount wiped off the club's debt.

"Our overall debt position reduced by $561,000 in 2016, with debt reduction since 2013 totalling $2.7m," Jackson said.

"In regards to distribution funding, the club did receive an additional $528,000 in AFL funding in 2016.

"It's important to note that $298,000 of this funding relates to an increase in base distribution funding, which all AFL clubs receive.

"The remaining $230,000 was an increase in AFL equalisation distribution."

Melbourne's annual general meeting will be held at the MCG on Thursday, December 15.