Resurgent Bombers record huge profit

Nov 20, 2017 - 6:37 AM Essendon have pulled off a stunning $15 million turnaround with the announcement of a $5.1 million profit for the 2017 financial year.

Fallout from the supplements saga hit the club's bottom line hard last year when the Bombers recorded an operating loss of $9.8 million.

Huge compensation payments and the cost of paying fill-in players while 10 players served season-long doping suspensions were key contributors to that result.

But the club achieved record membership and greater match revenues as the side returned to the finals this season with the likes of Jobe Watson, Dyson Heppell and Michael Hurley back in the line-up.

"To record a profit of $5.1 million dollars this financial year is significant for everyone involved in our club," chief executive Xavier Campbell said.

"This has been a year of progress from both a football and financial perspective, and we have witnessed pleasing increases across several key areas of our operations which directly impacted our bottom line.

"(But) on and off the field, the competition is more ruthless and competitive than ever, and we know we have to keep working harder and smarter and invest in the right areas of our club.

"In 2018 we will finalise plans for the new extension of our training facility at Melbourne Airport, to ensure state of the art resources for our football teams, and a venue our members and supporters will continue to be proud of."

The club's operating cash surplus was $8.5 million, before amortisation and depreciation.

Total revenue generated by the club was $65.2 million, an increase of $11.7 million year-on-year.

Source: AAP

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