Essendon Football Club has announced a trading profit of $401,429 for the financial year ending 31 October 2012. As a result of funds received to date for the development of the new High Performance Centre at Melbourne Airport of $11.9 million, the Club reports an overall operating profit of $12,345,536.

The trading cash surplus from normal operations exceeded $2.5 million.

Essendon Chief Executive Officer Ian Robson said a number of factors contributed to the positive result.

“The continuing strength of our membership base, enhanced commercial partnerships and improved returns on investments all contributed to the Club’s strong financial result this year,” Robson said

“Our challenge is always to ensure continued profitability to allow the Club to maintain investment in the football department and we are pleased to be able to achieve this outcome.”

Robson said the Club would take on a manageable amount of debt in the year ahead in order to complete construction on the new High Performance Centre at Melbourne Airport.

“The Flight Plan fundraising for the new High Performance Centre has made steady progress this year securing nearly $19 million of the $25.7 million project cost,” Robson said.

“As we enter one of the most important periods in our history, we have a number strategies in place to continue to drive revenue growth across the business and we are confident our strong financial position will allow the Club to pay down the shortfall as quickly as possible, aiming to be debt free by 2015.”

Essendon Football Club will hold its Annual General Meeting at the Clocktower Centre, on the corner of Mt Alexander and Pascoe Vale Roads, Moonee Ponds on Wednesday, December 19 commencing at 7pm.