NORTH Melbourne recorded a net operating profit of $470,046 in 2016, the club's eighth profit in the past nine years.

North also increased its revenue by $1.09 million in 2016, while reducing its debt by $400,000 to $1.25 million and increasing its football department spending by $496,000.

Club CEO Carl Dilena said the Kangaroos were in a strong financial position.

"We are fully aware we operate in a really challenging financial environment, so our staff deserve a massive amount of gratitude for their hard work and dedication in helping us record this result," Dilena said.

"In 2016, we saw an increase in total revenue to $38 million, thanks to the growth in gate receipts, membership and merchandise sales.

"We've also continued to increase our investment in our football department, ensuring that we give our players every chance to succeed in the years ahead."

North remains the only Victorian-based AFL club that does not rely on revenue from pokies and gambling.