UK Athletics has reported a surplus for the first time since 2017, two years after facing the threat of bankruptcy.

The governing body announced a record annual loss of £3.7m in 2023 but has implemented strict measures to deliver a surplus of £107,588.

UK Athletics (UKA) introduced tighter cost controls and restructured internally – reducing staff numbers from 72 to 62 – and “reducing support for some programmes”.

UKA also struck a “groundbreaking” deal with the organisers of the London Marathon and Great North Run in 2024 to help it tackle financial crises.

“I am very pleased that we are back in profit – it’s an important moment for UK Athletics and a real sign that the steps we have taken over the past two years are working,” UKA chair Ian Beattie said.

“But I don’t underestimate how difficult it has been to get back to this position. It has taken hard decisions, careful management and the commitment of a great many people to turn things around.

“The organisation has gone through a period of real change. We have had to make savings across every area, including redundancies and reduced support for some programmes outside the World Class Performance system.

“Those decisions were extremely tough and never taken lightly, but they were necessary to secure the long-term stability of the sport. We are a leaner organisation now – more streamlined and more focused on the essentials and the right culture – but we are also a stronger one as a result.”