Port Adelaide face challenges to remain competitive with other AFL clubs despite a 2007 profit of almost $930,000, Power president Greg Boulton says.
Port on Thursday announced a consolidated profit this year of $927,626 - more than $578,000 higher than last year's profit.
Boulton described this year's profit as a good result but warned there was still a lot of work to be done.
The profit was underpinned by a 20 per cent rise in corporate revenue, increased funds through the AFL's media rights arrangement and lower injury payments, he said.
"We must identify new revenue streams independent of football and our success to keep driving our business forward," Boulton said.
"We are up against clubs continually posting profits of $1 million to $5 million and, in order to remain competitive, we must be able to invest in football, this is a real challenge for us."
Boulton said Port's net asset position remained strong at $5.3 million.
Port on Thursday announced a consolidated profit this year of $927,626 - more than $578,000 higher than last year's profit.
Boulton described this year's profit as a good result but warned there was still a lot of work to be done.
The profit was underpinned by a 20 per cent rise in corporate revenue, increased funds through the AFL's media rights arrangement and lower injury payments, he said.
"We must identify new revenue streams independent of football and our success to keep driving our business forward," Boulton said.
"We are up against clubs continually posting profits of $1 million to $5 million and, in order to remain competitive, we must be able to invest in football, this is a real challenge for us."
Boulton said Port's net asset position remained strong at $5.3 million.