Richmond Football Club has announced an operating profit of $759,142 for the financial year ending October 31, 2010.
The net profit for the financial year was $2.85 million. This figure includes $1.9 million of government grants attributable to the redevelopment of the Punt Road Oval.
The Club has now announced six consecutive net profits. The Club also has a net asset position of $13.3 million.
"We are delighted with the final result given the difficult economic conditions throughout 2010 and the poor on-field performance of our team in the early part of the season," Richmond president Gary March said.
"The board and management of the Club have set some ambitious targets for the next three to four years and this result gives us something to build upon. This result is a credit to the management and staff of the Club.
"The board remains conscious of the significant level of debt the Club is carrying, so while this figure is pleasing, there are significant issues that need to be addressed to allow us to reach our future goals. That will be a key focus of the board and senior management in 2011.
"I would like to again thank our members and supporters for the wonderful support they provide the Club. They are the cornerstone upon which great clubs are built and that support clearly played an important role in us delivering this off-field result."
