Scottish Rugby has posted a record turnover for the second consecutive year, with the body now in its best net cash position for over 25 years.
Turnover rose to £61.1m (€65.9m/$73.8m) for the 2018-19 financial year, an increase of £3.9m on 2017-18. Scottish Rugby cited its most successful year ever for international matches as a major factor, with over 400,000 fans having attended six sold-out fixtures at Murrayfield.
Broadcast, commercial and additional rugby revenue streams were also contributing factors to the positive figures, Scottish Rugby said.
The organisation has used the increased revenue to continue investing in the domestic game. Some £14.5m has been invested into the sport at grassroots level over the past five years, compared to the £9.7m that was invested in the previous five.
The past 12 months have seen Scotland’s women’s national team secure its first bespoke front-of-shirt sponsor in the shape of SP Energy Networks, while a new broadcast deal with BBC Alba was also signed.
Scottish Rugby chairman Colin Grassie said: “We are pleased to report that we are in our best net year-end cash position for over 25 years, as a direct result of balanced and sustainable financial management of the organisation – reducing debt while working to increase incomes and investment in all areas of the game. At its height, cash debt was at a level of £23m. We are now in a new era financially and in a far stronger position.”
Scottish Rugby last month signed an early extension to its partnership with Italian sportswear company Macron. The new six-year deal runs until June 2026, with Scottish Rugby stating that the seven-figure agreement represents a “significant uplift” on the previous partnership.