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.
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. “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.