Melbourne LGBTI radio station JOY94.9 has managed to turn its financial fortunes around, reporting a $72,832 profit for the last financial year.

The result was announced at the station’s annual general meeting on Sunday, a significant turnaround from the $49,400 deficit posted during the previous financial year, and a $106,000 loss the year before that.

JOY president David McCarthy said he was pleased with the result and said a restructure of JOY’s paid positions had contributed to the station cutting operating costs.

“We reported a profit which is recognition of the hard work of everyone associated with JOY,” McCarthy told the Star Observer.

“There are a couple of staff positions less, we made it easier for people to know what their jobs were, and some of that slack was picked up by volunteers and some of that has been picked up by the board.

“We had a strategy and we stuck to it.”

Financial results show the station also saved money this year on transmitter costs, telephone and promotions and publicity expenses.

McCarthy said he would like to see the station put past difficult financial years behind it.

“I’d like to be able to produce another surplus for next year, because at the end of the day we need to build up our reserves, not just a one year surplus,” he said.

Three new board members were elected at the meeting. Seven candidates stood for three positions. Jed Gilbert and Kyle Minall were re-elected and the third place went to newcomer, public servant Anthony Vitale.

Outgoing general manager Tass Mousaferiadis thanked staff and said the station should continue its focus on strengthening the JOY ‘brand’ to push for better outcomes for the LGBTI community.

“It’s not just an entertainment outlet but really am important community service,” he said.

Life memberships were awarded to former presenter and music director Damian Nicholas and long-term volunteer and former program manager Marg Gardner.

Nicholas said the station had been a lifeline for him when he lived in the country.

“For a lot of people JOY is the only connection to the community,” he said.

Former Australian Coalition for Equality spokesman Corey Irlam will start as the station’s new general manager on November 2.

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