Another record-breaking year at the Royal highland Show has helped put the finances of Scotland’s largest agricultural society back in the black.

The Royal highlands and agricultural society of Scotland (RHASS) said its annual show in Ingliston delivered a fifth consecutive year of record revenue. This, with revenue from the new hotel on its site and Testament, saw the charity’s net operating deficit of £ 234,000 last year swing to a £ 618,000 surplus in the year ended 30 November 2018.

The show brought in 4.76 million euros, which is 310,000 euros more than in 2017. Total revenue for the year rose by 1.56 million euros to 9.60 million euros. RHASS recently revealed a study saying the economic benefit to Scotland from the Royal highland Show is estimated at £ 55.7 million a year.

As the company’s finances have improved, the society has stepped up support for organizations that share its authority to promote and protect the interests of farmers, agriculture, rural industry and communities. RHASS awarded £ 301,000 in scholarships and grants, an increase of € 116,000.

Alan Laidlaw, chief Executive, said the year could be ” summed up as one of significant investment,” including £ 5.1 million for visitors to the pavilion to be opened for the 180th show in June 2020.

According to its 2018 annual report, the society was able to set aside £ 4,250,000 from the will to cover the costs of the new development. Funding came from the estate of John Romanes, who was instrumental in establishing the Ingliston race track on the exhibition site in the 1960s.

The company also added that the trading income received by RhAsS Highland Centre subsidiary increased slightly at the end of 2017 and amounted to 1.65 million euros.

RHASS Chairman James Warnock said: “New revenue streams, including rental income from the Moxy Hotel, will ensure we maintain a sustainable organisation through sound financial management.”