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Tigers announce $3.3 million profit

Trent Cotchin of the Tigers walks to speak to his team during the 2013 1st Elimination Final match between the Richmond Tigers and the Carlton Blues at the MCG, Melbourne on September 08, 2013. (Photo: Michael Willson/AFL Media)
Trent Cotchin of the Tigers walks to speak to his team during the 2013 1st Elimination Final match between the Richmond Tigers and the Carlton Blues at the MCG, Melbourne on September 08, 2013. (Photo: Michael Willson/AFL Media)
Richmond Football Club has recorded a net surplus of $3.317 million for the financial year ended October 31, 2013.

It is the Club's ninth consecutive profit and the second consecutive profit in excess of $3 million.

Richmond now has no debt, one year ahead of the 2014 target that had been set for its eradication.

The Club also has improved its net asset position from $19.07 million to $22.38 million.

"This is a very pleasing result and one we have been able to deliver while making significant investments in our football program and our facilities at the ME Bank Centre," said Richmond’s president Peggy O'Neal.

"We invested a further $1.59 million in our football department and spent another $2 million resurfacing Punt Road Oval – investments that were seen as critical to the delivery of on-field success.

"The burden of significant debt held the Club back for many years, but improved business performance – driven by our committed members, coteries, supporters and sponsors – combined with the wonderful support provided to the Fighting Tiger Fund, means that is no longer the case.

"The board made a conscious decision that developing the Club’s financial muscle was a priority if we are to deliver on-field success, and we are working to build a business that is at the forefront of professional sport.

"We want to deliver our stakeholders a unified, sustainable and trusted club, and the board believes that season 2013 was another significant step forward.”

2013 highlights
- Record net membership revenue of $6.35 million, representing 60,321 members
- Record sponsorship net revenue
- Merchandise sales grew by 17%
- Record coterie revenue
- Match attendance grew by 19% (excluding final), ranking the Club second in the AFL
- Total revenue: $44.8 million (Club record)
- Continued investment and support provided to the Korin Gamadji Institute, which delivers education and leadership outcomes for Indigenous youth