Scotland’s premier agricultural society recorded its highest ever turnover last year.
The Royal Highland and Agricultural Society of Scotland (RHASS), which organises the Royal Highland Show, saw turnover rise 9.1% in the year to November 30 2014, to a record-high of £7.256 million.
RHASS chief executive Stephen Hutt said the rise in turnover was due to strong bequests income, an increase in visitors to last year’s Royal Highland Show and strong income from events at the Royal Highland Centre.
Income from bequests rose 16% to £342,873, while income from the Royal Highland Show increased by 4.6% to an all-time high of £3.982m.
Visitor numbers also increased last year to 178,659 over the show’s four days.
Income from the Royal Highland Centre increased by nearly £300,000 to £1.383m, while the Royal Highland Society Development Trust saw income rise slightly to £35,422.
Expenditure at the organisation was £6.203m, up from £5.543m the year before, with operating surplus down slightly to £1.053m from £1.104m previously.
The accounts also include a £100,000 fine for breaches to health and safety legislation this follows the death of three-year-old Ben Craggs who died at the Ingliston showground in June 2008.
The society had written off some old costs in last year’s accounts, which were on the balance sheet as a result of work done by the society previously when it was considering moving to another site, Mr Hutt added.
In addition, depreciation costs had increased by around £100,000-a-year for the past few years as a result of investment in the showground.
Mr Hutt said the society had received the go-ahead in March from Edinburgh City Council for the first phase of its much delayed development plan.
This should see a large new hotel built adjacent to the entrance to Edinburgh Airport and a new boulevard leading to a redesigned and much enhanced East Gate for the showground.
The improvements, which will take place over the next 10 years, including a new members’ building at the showground, another hotel and improvements to infrastructure such as roads and drainage.
The members’ building would replace the MacRobert Pavillion, which Mr Hutt described as “the grand old lady” of the Ingliston showground.
The original draft plan showed the new building being constructed on a different site to the east of the main ring but now the intention is to rebuild on the same footprint making better use of the ground floor.
“The plan would be to have the new members’ facility built for the 2017 show,” said Mr Hutt.
The society hoped to build on the success of last year’s show and push visitor numbers over the 180,000 mark, he added.
The Food Hall will be re-branded as ‘Scotland’s Larder Live’ and various trails throughout the show will be created for children.
This year’s show takes place from June 18-21.