The Rugby Football Union have reported a planned loss of £6.3m for the last financial year as a result of fewer England matches at Twickenham.
The RFU loses money in every Rugby World Cup season because there are no autumn internationals and England only have two home matches in the Six Nations.
But the reported losses are covered by reserves set aside in the previous three profitable years of the World Cup cycle, ensuring the RFU’s investment in the sport is not affected.
RFU chief executive Ian Ritchie revealed the union are on course for a record turnover in the current year.
The RFU have recently announced plans for a £76m upgrade of Twickenham Stadium and a £26m investment in the community game to take full advantage of the 2015 World Cup legacy.
Chief financial officer Stephen Brown confirmed the RFU will have repaid the full bank loan which financed the Twickenham south stand by the end of the current financial year.
“We also provided £5.2m of capital expenditure to kick start the £76m stadium refurbishment project and for the first time we are also accounting for the initial costs of hosting Rugby World Cup 2015,” Brown said.