Cheltenham chairman Paul Baker has revealed the club are on course to break even or make a slight profit for the first time in five years following the release of their half-year financial results.
During the last two financial years the Robins have made substantial losses due to a number of factors, some that have limited the budget given to manager Mark Yates.
However, the club's half-year results are positive, and although they have shown there is still work to complete, Baker believes the business is getting back on the right track.
"Our half-year results are the most encouraging figures we have seen in a very long time," he told the club's official website. "A huge amount of hard work has gone on behind the scenes in order to turn things around from the extremely difficult position we found ourselves in two years ago.
"We are not out of the woods yet and there is still considerable work to be done but the signs are encouraging and with the team doing well on the pitch, there is much to look forward to in the second half of the season."