Scottish Rugby made a loss of £3.7m last year, in line with the union’s own target, as revenue reached a record £79.4m.
The governing body says it is on course to meet its commitment to break even by next year and turn a profit by 2027.
Four Tests at Murrayfield in November 2024 and three home matches in the Six Nations this year helped increase ticket revenue by over £11m for the year to June 2025.
There was also a rise in broadcast income, but these increases were offset slightly by the loss of payments from World Rugby relating to the 2023 World Cup.
Concerts by Oasis, Taloyr Swift, and AC/DC also helped bring in money, while Scottish Rugby continued its mission to cut costs after losing over £11m from 2023 to 2024.
That included making 35 posts redundant.
Chairman John McGuigan said the agenda for the year was to keep “moving us further away from the financial difficulties of recent years”.
“We are not yet at the point to say the financial challenges are over whilst reporting a loss for 24/25, but it does give me comfort that we are now on a clear glide path to financial balance,” McGuigan added.
“We have had to make some very tough decisions including redundancies which have impacted loyal colleagues and their families.
“In combination with other cost reduction measures we have significantly reduced the overspend whilst making investments in key areas of the business including the pathways framework for both the men’s and women’s game.”
