Premiership rugby side Gloucester Rugby announced that it has recorded an operating profit for the fifth straight year, the period up until June 30, 2015. It was a year of transition for the club, as a new coaching team was appointed and an overhaul of the playing squad undertaken with several high-profile player signings made. In this period, the team won the European Rugby Challenge Cup, the club's first silverware for four years. Away from the field of play, the club increased turnover by 21.3% over the previous year. This was driven by growth in all key income streams throughout the business, notably new sponsorships and commercial partnerships, while match day and season ticket income remained largely flat. The club also held two successful concerts at Kingsholm in the summer, with over 26,000 people coming to see Madness and Elton John perform, the latter being the highest profile concert to be staged at the stadium. The club's long term debt was also reduced by 18%. Profit on ordinary activities before taxation was £286,026 ($419,514), which reflects the fifth year of profit in a row. 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" (Gloucester Rugby).
