The on and off-field improvement at Carlton continues, after recording a $1.1 million operating profit before depreciation and amortisation for the year ending October 31, 2016.
Including depreciation and amortisation, the Club recorded a net deficit of $765,000 – in comparison with $2.7 million in 2015.
Announcing the result at this evening’s Members Forum, President Mark LoGiudice said the financial turnaround was a sign of the Club’s growth.
“This result represents a $2.0million improvement on the previous financial year, which is a tremendous turn around,” LoGiudice said.
“We have managed our costs very effectively and have a clear vision to continue to advance our revenue streams both in a traditional and non-traditional capacity.
“Across the board, the Club experienced substantial growth and improvement – ranging from seven wins (an increase from four on the previous year) and membership of 50,202 for only the second time in our history.
“Although a commercially poor fixture meant gate receipts were down for the year, a significant amount of work went into increasing corporate partnerships, hospitality and commercial revenues.
“Our co-major partners including Hyundai and CareerOne continue to provide valued support for our football club. While we have not shied away from the fact that the pursuit of success will take time and patience, we do have a club-wide belief in our purpose and our people that will take us to where we want to be.
“Finally, we would like to extend our sincere thanks to our members for their continued support of Carlton as we look ahead to another year of growth and improvement across all areas of the Club.”
Carlton’s Annual General Meeting (AGM) for 2016 will be held on Monday 20 February at the Carlton Football Club. Further details relating to the AGM will be communicated to members in the coming weeks.