The Sydney Swans have capped their AFL premiership success with a 2012 financial year profit of $207,007.
Swans chairman Richard Colless said the club's second successive profit, after losses in 2009 and 2010, was in line with its three-year plan.
"The modest profit, posted after achieving the ultimate objective of winning the 2012 AFL premiership, reflects the reality of fielding an elite sporting team in Australia's most competitive sporting market and in one of the world's most expensive cities to live," he said in a statement.
Colless said the result, which takes into account non-cash expenses of $391,633, was a fair result given the SCG's redevelopment which made 10,000 seats unavailable for the entire season.
"This (redevelopment) resulted in over 7000 of our members having to be relocated and regrettably approximately 3000 chose not to renew their memberships.
"The club is excited by the year ahead and we are optimistic that we can continue to attract major sponsors looking for national exposure and we will continue to work hard on building our membership base to our goal of 40,000."