Adelaide have reaffirmed their status as one of the AFL’s power clubs with an operating profit of $1.46 million.

That became a statutory loss of $1.34 million after abnormal and non-cash items.

The Crows said the strong result in the last financial year was on the back of club-record membership and revenue.

“We operate in an increasingly challenging environment and our off-field results speak volumes of our members and fans who offer unwavering support,” chairman Rob Chapman said in a statement.

“There has been improvement across each and every area of our operations, as well as back-to-back finals appearances, and those supporters should take comfort knowing the club is in a strong position.”

Also on Thursday, Adelaide announced former player Andrew Payze was standing down from the board.

Payze, a member of their foundation 1991 squad, ended 17 years on the board – also a club record.

Banking executive Richard Fennell has taken his place.