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Kangaroos record another profit in AFL

AAP logoAAP 8/12/2016 Jason Phelan

North Melbourne have continued their drive towards debt-free status, the Roos recording their eighth profit in the past nine years.

North recorded a net operating profit of $470,046 in the last financial year and reduced their overall debt by a further $400,000, leaving them $1.25 million in debt.

"We are very pleased to post yet another profit in the past financial year," chief executive Carl Dilena said.

"In 2016, we saw an increase in total revenue to $38 million, thanks to the growth in gate receipts, membership and merchandise sales.

"We've also continued to increase our investment in our football department, ensuring that we give our players every chance to succeed in the years ahead."

North are the only Victorian-based AFL club that doesn't rely on revenue from pokies and gambling.

The result came in the last year James Brayshaw's nine-season chairmanship.

He was required to relinquish the role by the club's constitution having reached his term limit.

Brayshaw took over in December, 2007, when the Roos were about $8 million in debt and considering relocation to the Gold Coast.

"During James' chairmanship, we saw a turnaround in the club's fortunes and we owe him a great deal for the work he put in behind the scenes during his (time)," Dilena said.

"Since James took over, we've doubled our membership from 22,000 to a record 45,000 plus, as well as doubling our sponsorship revenue, allowing us to invest heavily in growing our workforce."

Former AFL official Ben Buckley succeeded Brayshaw as chairman in October.

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