Cape Town - The Blue Bulls Company made a reported profit of R2 million in 2018.
Netwerk24 reported over the weekend that the profit is a significant improvement on 2017, when the union reported a loss of nearly R30 million.
The report added that the turnaround can be attributed to a variety of factors, including the retrenchments of coaches and office personnel, good financial management, profit made form the sold-out Springboks v All Blacks Test, as well as compensation received from the English RFU for the release of coach John Mitchell.
It is believed that the Bulls received £200 000 (around R3.5 million) in compensation for Mitchell, who joined England as their defence coach.
The Bulls, meanwhile, are yet to find a replacement for Mitchell and CEO Barend van Graan, whose contract expires at the end of January 2019.
The Pretoria franchise announced earlier this month that their Currie Cup coach Pote Human, current Southern Kings coach Deon Davids and former Bulls and Springbok lock Victor Matfield were the three candidates in line to replace Mitchell.
