North Melbourne has continued its run of strong annual financial results, announcing a 12th consecutive profit in the 2023 financial year.

The club achieved an overall consolidated operating profit before redevelopment funding and amortisation of $318,733. The overall net profit was $269,853 for the financial year ending October 31.

Total revenue, excluding redevelopment funding, increased from $44.4m in 2022 to $49.8m. 

Growth in revenue was achieved through increased membership revenue, greater match returns, and from an increase in base funding from the AFL due to player payment increases, Gather Round funding and an uplift in variable funding.

Net assets of the club increased to $19.2m from $18.9m in 2022. 

This financial year also saw the club achieve its highest ever membership number, with 51,084 North Melbourne members. Significantly, included in that number was a 25 per cent surge in junior members.

The club also enjoyed great corporate support, with major partner Mazda and platinum partner Spirit of Tasmania embarking on the first year of their three-year deals with the club in 2023.

North Melbourne chief executive officer Jennifer Watt said this was an outstanding result given where the club is placed in the AFL performance cycle. 

"This is another positive result and a reflection of the strong financial management and good governance of the club over the past 12 years," Watt said.

"We are incredibly fortunate to have such loyal and passionate members and supporters, and our corporate partners have been equally unwavering in their support of the club.

"A strong and financially independent club is incredibly important for on-field success in our AFL and AFLW programs. This latest result ensures we are in the best position possible to give our athletes the best chance to thrive.

"On behalf of the Board, executive and staff, I would like to thank everyone who contributed to this result and we look forward to taking the next step in our quest for success in our football programs."

>> View the full financial report here