The Ospreys have announced an annual profit for the first time in nine years.

The region declared a profit before exceptional items and interest charges of £143,498 in 2014/15 – a positive end of year figure for the first time since 2007.

The net profit of £128,403 is a turnaround of £251,963 on the previous year when the business declared a net loss of £123,560.

Chairman Roger Blyth said: “It gives me enormous pleasure to be able to talk about the improved off field performance of the business. These figures are the result of the efforts and hard work behind the scenes, across all departments of the organisation, to ensure more prudent financial management, sensible expenditure and growth in income, and are entirely in line with our five-year business plan.

“We saw a number of new commercial partnerships launched during this period, while the new RSA came into effect, providing a new system to reward national squad contribution more fairly, something which will clearly prove beneficial to the Ospreys given our historic over contribution to the national cause.

“The continued improvement in our financial position gives cause for cautious optimism for the future but there remains a lot of hard work ahead. Governance changes within the WRU provide an opportunity for Ospreys Rugby and our partners within Pro Rugby Wales to work closely with the Union over the coming years to ensure that the professional game, along with community and grass roots, thrives.”