Leicester Tigers have announced a record turnover for the second season running, with an increase of £1m on 2010 raising the figure to £19.5m.
Tigers, last season's Premiership runners-up, also said that operating profit was £559,000, up 49% on last season's total of £284,000.
"It has been another successful year," said executive chairman Peter Tom.
"The growth in turnover and increased profits reflect the commitment and hard work of everyone at the club."
Tom added: "It is encouraging that our turnover is now nudging £20 million, but we have no intention of standing still and see this as just another step in the continued development of the club."
Contributing factors were a boost in ticket income, up 5% to £6m, as well as conference and event revenues that rose 11% to £1.1m.
The club's board also revealed their intention to appoint a chief executive.
Last season was the Tigers' first trophy-less campaign since 2008, after consecutive Premiership successes in 2009 and 2010, as Richard Cockerill's side were beaten 22-18 by Saracens at Twickenham.
So far this season Leicester have struggled to adjust in the absence of 12 senior professionals at the World Cup, with three defeats in the opening four games of the Premiership campaign.
"World Cup years are always difficult, both on and off the field, and we cannot escape the impact of a weak economy," Tom added.
"These two factors will have an inevitable impact on revenues and profits in the current year.
"However, we continue to look to the future with confidence and remain committed to retaining our position as the UK's premier professional rugby club."