Essendon Football Club today confirmed a profit of $1.007 million for the financial year ending, October 31st, 2002. The profit, which includes a $300,000 payment from the sale of Waverley, further strengthens the financial stability of the club. The full Essendon Football Club Financial Report for season 2002 can be downloaded here.

Club chief executive Peter Jackson said the result was pleasing. ""This club works very hard to achieve results such as this and that combined with the fantastic support of our sponsors, members and supporters keeps this club strong,"" he said.

Jackson said the result had been boosted by a number of factors. ""We have included the $300,000 Waverley payment and the reversal of a debt previously written off so that inflated the final figure,"" he said. ""The sponsorship and corporate hospitality markets are very tough at the moment and I think all clubs are finding it hard going in these areas. This, combined with the reduction in the capacity of the MCG, means we have a lot of hard work ahead of us in 2003"".