The federation went so far as to shift its accounting period to the year to 9 May 2007 in order to include the sale of Remit in May 2006 that was eventually worth £22m.

Previously, it measured accounts for the year to January.

Earnings from the Remit sale account for the vast majority of the federation's retained 2007 profit of £25.6m. The profits made from the Remit sales have, however, allowed the RMIF to allay its financial problems. The loss of £870,000 in 2006 has been erased, and the £5.6m pension deficit unveiled at the organisation's last tri-annual review has now been wiped out. The RMIF said it would now concentrate on expanding the business and focus on creating profit and value in 2008.