Gloucester Rugby has recorded an operating profit for the fifth season running, although that margin fell during their European Challenge Cup-winning campaign.
Turnover for the period until Jun. 30, 2015 rose by 21.3 percent from £12 million in 2013-14 as the Cherry and Whites claimed their first piece of silverware for four years with victory over Edinburgh at The Stoop last May.
New commercial and sponsorship partnerships helped swell the coffers -- and reduce debt by 18 percent -- as did two summer concerts at Kingsholm.
However, profit was down from £512,000 to £286,026 following a season that saw massive upheaval in the playing squad and coaching staff, while the club also purchased land adjacent to their home ground.
"It was an eventful year, we made significant changes to the structure of the playing department and coaching set up as part of a long term plan to bring success to the club," CEO Stephen Vaughan said.
"From a business perspective, we have continued to work hard both on and off the pitch in a challenging economic backdrop.
"Success on the pitch is what drives us and is why we are here. So it is crucial that we backed that up and invested more than ever before to try to compete with the biggest spenders in the Aviva Premiership.
"This approach, our lack of Champions Cup Rugby and the most competitive market we have ever seen obviously challenges the self-sustainable model, so I am delighted that we have been able to remain profitable due to our performance in driving strong revenue growth."
Having won the Challenge Cup, Gloucester missed the chance to qualify for the Champions Cup and Vaughan admitted that was a "minimum" target this season.
"Winning the European Rugby Challenge Cup and only losing one competitive game at Kingsholm in the calendar year are signs that we are moving in the right direction," he said.
"However, finishing ninth in the Aviva Premiership was disappointing to all of us and we are determined that the club starts challenging for Champions Cup Rugby as a minimum going forward."